RWE’s renewables division recorded a “marked improvement” in earnings in the first three quarters of the year, boosting the operating result earned by RWE Innogy to €280m, up €251m year on year.

The German company said this was due mainly to the commissioning of the new wind farms Gwynt y Môr off the coast of North Wales and Nordsee Ost near Heligoland :

“RWE Innogy is really taking off now, from a small seed three years ago it has become a model of success”, RWE chief executive Peter Terium claimed.

Despite the increase, renewables continued to make up only a small fraction of RWE Group’s overall Ebitda of €4.4bn during the first three quarters, down 6.3% from the year-earlier period amid a plunge in earnings from fossil-fired power generation.

However, the divestment of the grid connection for Gwynt y Môr helped reduce the company’s debt €1bn.