EnBW Highlights Record Energy Transition Investments and Renewable Growth at 2026 Annual General Meeting

EnBW Highlights Record Energy Transition Investments and Renewable Growth at 2026 Annual General Meeting

(IN BRIEF) EnBW Energie Baden-Württemberg AG used its 2026 Annual General Meeting to highlight record investments, strong earnings and its long-term strategy for Germany’s energy transition. The company invested €7.6 billion in 2025, primarily into renewable energy, electricity and gas grids, offshore wind projects and hydrogen-ready gas-fired power plants. Renewable energy now represents 66 percent of EnBW’s installed generation capacity following the addition of 800 megawatts of wind and solar power last year. CEO Georg Stamatelopoulos said EnBW’s integrated business model positions the company to manage the complex interaction between renewable expansion, grid development and energy security. The company maintained its long-term investment target of up to €50 billion by 2030 and reaffirmed goals for climate neutrality by 2035 and broader net-zero emissions by 2050.

(PRESS RELEASE) STUTTGART, 7-May-2026 — /EuropaWire/ — EnBW Energie Baden-Württemberg AG used its 2026 Annual General Meeting to outline record investment activity, strong financial performance and an expanded long-term strategy focused on supporting Germany’s energy transition through large-scale infrastructure and renewable energy development.

During the meeting in Stuttgart, CEO Georg Stamatelopoulos described EnBW as a resilient and profitable company despite ongoing geopolitical tensions and economic uncertainty. He emphasized the company’s unique position within Germany’s energy market as one of the few major utilities operating across the entire value chain, including energy generation, trading, transmission, distribution and electric mobility.

According to Stamatelopoulos, this integrated structure allows EnBW to manage the interaction between different parts of the energy system more effectively than competitors, creating opportunities across all business segments while helping support the broader transformation of the energy sector.

The company invested €7.6 billion during fiscal year 2025, representing a 22 percent increase compared with the previous year. EnBW said 87 percent of this investment was directed toward growth projects linked to renewable energy, electricity and gas infrastructure and hydrogen-ready generation capacity.

Major projects included expansion of Germany’s transmission network through the SuedLink and Ultranet high-voltage direct current connections designed to improve electricity transfer between northern and southern Germany. EnBW also continued investing heavily in offshore wind projects, including the He Dreiht offshore wind farm, as well as hydrogen-ready gas-fired power plants intended to provide backup generation capacity during periods of low renewable output.

The company added approximately 800 megawatts of new wind and solar generation capacity during 2025, increasing the renewable share of its installed generation portfolio to 66 percent. EnBW reiterated its objective of reaching 75 to 80 percent renewable generation capacity by 2030 while maintaining its target of achieving climate neutrality by 2035 and net-zero emissions across its broader sphere of influence by 2050 at the latest.

Stamatelopoulos stressed that a successful energy transition requires balancing sustainability, supply security and affordability equally. He warned that renewable energy expansion must be coordinated with sufficient grid development and backup power capacity to avoid instability within the electricity system.

The CEO specifically highlighted the importance of gas-fired power plants during periods of low wind and solar production, known in Germany as “Dunkelflaute.” According to EnBW, future gas plants are expected to transition toward operation using green hydrogen while complementing battery storage systems that alone cannot fully guarantee energy security.

EnBW also stated that a stable and coordinated regulatory environment remains essential for supporting the large-scale investments required for the transition. The company plans to invest up to €50 billion by 2030, with the majority allocated toward projects in Germany.

Financially, EnBW achieved adjusted EBITDA of €5.1 billion during fiscal year 2025, successfully meeting its targets. Stamatelopoulos compared current earnings levels with earlier years when the company generated between €2 billion and €2.5 billion in EBITDA, describing the improvement as evidence of the company’s strategic transformation.

The Board proposed a dividend of €1.70 per share for 2025, representing a six percent increase compared with the previous year and marking another record dividend payout for the company. EnBW said the payout ratio remains slightly below its long-term target range to preserve financial flexibility for continued investment expansion.

The company also highlighted its ongoing “Performance in Growth” efficiency programme, which aims to deliver €900 million in sustainable earnings improvements by 2028 to help finance future growth initiatives.

For fiscal year 2026, EnBW expects adjusted EBITDA at Group level to range between €4.6 billion and €5.1 billion. The company forecasts continued strong contributions from grid operations, renewable energy infrastructure and the ongoing expansion of electromobility services.

About EnBW Energie Baden-Württemberg AG

With a workforce of some 31,500 employees, EnBW is one of the largest energy supply companies in Germany and Europe. Providing energy to some 5.5 million customers, EnBW serves all stages of the value chain, from generation and trading to grid operation and the sale of electricity, heat energy and gas. In the company’s transformation from a traditional energy provider to a sustainable infrastructure group, the expansion of renewable energy sources and of the distribution and transportation grids for electricity and gas, including hydrogen, are cornerstones of EnBW’s growth strategy and the focus of its investment spending. EnBW plans to invest up to €50 billion by 2030, around 85% of which will be in Germany. By then, renewables are planned to account for around 80% of the EnBW generation portfolio, with coal to be phased out by the end of 2028 provided conditions allow. These are key milestones on the way to the net zero target for the company’s own greenhouse gas emissions by 2040.

Media Contact:

Sebastian Ackermann
Head of Communications & Brand
Phone: +49 711 289-83787
s.ackermann@enbw.com

SOURCE: EnBW