RWE Balances Hydrogen Bet With Buyback of Urenco Stake as Earnings Beat Fuels Confidence
Published on 11/14/2026 at 16:14 | Editorial boerse-global.de
RWE is preparing to bid for additional power plant capacity in Germany's second auction round, even as the company basks in the glow of a stronger-than-expected set of nine-month results and a fresh analyst upgrade.
Finance chief Michael Müller said Wednesday that the utility has further projects in the pipeline totaling around 1.5 GW for the upcoming tender, according to Reuters. That announcement follows the company's success on 3 November, when it secured awards for three new hydrogen-ready power plant projects in Germany.
Hydrogen Turbine Trial Underway
The group's hydrogen ambitions are already being tested on the ground. At its Emsland site in Lingen, RWE and Kawasaki Heavy Industries launched trial operations of a hydrogen-capable gas turbine on 6 November. The unit has a capacity of 34 MW, and the trial is designed to run on up to 100% hydrogen.
Earnings Beat Lifts Guidance
RWE's operational performance has given investors plenty to cheer. Adjusted EBITDA for the first three quarters of 2026 came in at €4.6 billion, a jump of 35% year on year. Adjusted net income per share climbed 42% to €2.52, while adjusted net income reached €1.8 billion.
Should investors sell immediately? Or is it worth buying Rwe?
The figures, reported Wednesday, exceeded market expectations, according to dpa-AFX. The news agency pointed to robust energy trading, the commissioning of new wind and solar plants, and more favorable wind conditions across Europe as the main drivers behind the outperformance.
With those numbers in hand, RWE confirmed its full-year guidance and said it expects results at the upper end of its forecast ranges. The company also reiterated its dividend target of €1.32 per share for 2026.
Barclays Lifts Price Target
Analysts have taken note. Barclays raised its price target on the stock from €72 to €73 on Thursday and maintained its "Overweight" rating. Shares gained 1.2% on Friday.
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Urenco Stake in Play as Offshore Deal Closes
Beyond the earnings story, corporate activity is picking up. According to Handelsblatt, the German government plans to acquire the one-third stake in Urenco jointly held by RWE and E.ON. Both companies declined to comment on the report.
Separately, RWE and KKR completed their joint venture for the Vanguard West and Vanguard East offshore wind projects on Wednesday. KKR acquired a 50% interest in each project, which together have a planned capacity of 2.8 GW and represent an investment volume of roughly £12 billion. Offshore construction is scheduled to begin in early 2027.
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Rwe Stock: New Analysis - 14 November
Fresh Rwe information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
