RWE's Nine-Month Beat Backs Top-End Guidance as Sicily Storage Build and £12 Billion Wind Deal Advance

Published on 11/14/2026 at 16:14 | Editorial boerse-global.de

RWE begins 62.5 MW Ragusa battery storage in Sicily, targets end-2027 online, as nine-month adjusted EBITDA rises to EUR 4.6 billion.

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RWE has kicked off construction of its first battery storage facility in Italy, a 62.5 MW plant in Ragusa on Sicily that the company aims to bring online by the end of 2027. The groundbreaking, announced Tuesday, adds a southern European foothold to a pipeline that is already paying off: the Essen-based utility reported adjusted EBITDA of EUR 4.6 billion for the first nine months of 2026, up from EUR 3.4 billion a year earlier.

That figure, released Wednesday, came in ahead of expectations. dpa-AFX attributed the outperformance to a strong energy trading business, the commissioning of new wind and solar capacity, and more favourable wind conditions across Europe. Adjusted net income for the period reached EUR 1.8 billion.

Guidance Points to Upper End

Management confirmed its full-year outlook and said it expects results at the upper end of the announced ranges. The forecast envisages adjusted EBITDA of EUR 5.75 billion to EUR 6.35 billion. Investors took the update in stride, with the stock adding 1.2% on Friday.

Should investors sell immediately? Or is it worth buying Rwe?

Analysts followed suit. Barclays raised its price target on Thursday to EUR 73 from EUR 72 while reiterating its "Overweight" rating.

Urenco Stake in Berlin's Sights

On the portfolio front, the German government is planning to acquire the one-third stake in uranium enrichment group Urenco held jointly by RWE and E.ON, according to Handelsblatt. Reuters reported that a budget provision of up to EUR 4 billion could be earmarked for the purchase, with completion not expected before mid-2027. Both RWE and E.ON declined to comment.

Offshore Financing Wrapped Up

RWE and KKR also closed their 50:50 joint venture for the Vanguard West and Vanguard East offshore wind projects on Wednesday, alongside the non-recourse project financing for the schemes. The two wind farms in the British North Sea together account for around 2.8 GW of capacity, with investment in the projects and their grid infrastructure totalling roughly GBP 12 billion. Construction offshore is scheduled to begin in early 2027, and full commissioning is targeted for 2030.

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