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Global - Renewable Energy 0199 - 0668 - 2009
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INDUSTRY PROFILE
Global Renewable Energy
Reference Code: 0199-0668
Publication Date: February 2010
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EXECUTIVE SUMMARY
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EXECUTIVE SUMMARY
Market value
The global renewable energy market grew by 5.7% in 2009 to reach a value of $436.6 billion.
Market value forecast
In 2014, the global renewable energy market is forecast to have a value of $455.6 billion, an increase of
4.4% since 2009.
Market volume
The global renewable energy market grew by 4.3% in 2009 to reach a volume of 3,067.8 billion kilowatt
hours (kWh).
Market volume forecast
In 2014, the global renewable energy market is forecast to have a volume of 3,842.5 billion kilowatt hours(kWh), an increase of 25.3% since 2009.
Market segmentation II
The Americas accounts for 44.9% of the global renewable energy market value.
Market rivalry
In most countries, it is common to see a small number of large companies holding significant market
share, even if the retail market is actually fragmented and so this share is not dominating.
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CONTENTS
Global - Renewable Energy 0199 - 0668 - 2009
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TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 6
Market definition 6
Research highlights 7
Market analysis 8
MARKET VALUE 9
MARKET VOLUME 10
MARKET SEGMENTATION II 11
COMPETITIVE LANDSCAPE 12
LEADING COMPANIES 14
FPL Group, Inc 14
Electricit de France (EDF) 20
E.ON AG 25
RWE AG 32
MARKET FORECASTS 38
Market value forecast 38
Market volume forecast 39
APPENDIX 40
Methodology 40
Industry associations 41
Related Datamonitor research 41
Disclaimer 42
ABOUT DATAMONITOR 43
Premium Reports 43
Summary Reports 43
Datamonitor consulting 43
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CONTENTS
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LIST OF TABLES
Table 1: Global renewable energy market value: $ billion, 200509 9
Table 2: Global renewable energy market volume: billion kilowatt hours (kWh), 200509 10
Table 3: Global renewable energy market segmentation II: % share, by value, 2009 11
Table 4: FPL Group, Inc: key facts 14
Table 5: FPL Group, Inc: key financials ($) 17
Table 6: FPL Group, Inc: key financial ratios 18
Table 7: Electricit de France (EDF): key facts 20
Table 8: Electricit de France (EDF): key financials ($) 22
Table 9: Electricit de France (EDF): key financials () 22
Table 10:
Electricit de France (EDF): key financial ratios 23
Table 11: E.ON AG: key facts 25
Table 12: E.ON AG: key financials ($) 30
Table 13: E.ON AG: key financials () 30
Table 14: E.ON AG: key financial ratios 30
Table 15: RWE AG: key facts 32
Table 16: RWE AG: key financials ($) 35
Table 17: RWE AG: key financials () 36
Table 18: RWE AG: key financial ratios 36
Table 19: Global renewable energy market value forecast: $ billion, 200914 38
Table 20: Global renewable energy market volume forecast: billion kilowatt hours (kWh), 200914 39
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CONTENTS
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LIST OF FIGURES
Figure 1: Global renewable energy market value: $ billion, 200509 9
Figure 2: Global renewable energy market volume: billion kilowatt hours (kWh), 200509 10
Figure 3: Global renewable energy market segmentation II: % share, by value, 2009 11
Figure 4: FPL Group, Inc: revenues & profitability 18
Figure 5: FPL Group, Inc: assets & liabilities 19
Figure 6: Electricit de France (EDF): revenues & profitability 23
Figure 7: Electricit de France (EDF): assets & liabilities 24
Figure 8: E.ON AG: revenues & profitability 31
Figure 9: E.ON AG: assets & liabilities 31
Figure 10:
RWE AG: revenues & profitability 37
Figure 11: RWE AG: assets & liabilities 37
Figure 12: Global renewable energy market value forecast: $ billion, 200914 38
Figure 13: Global renewable energy market volume forecast: billion kilowatt hours (kWh), 200914 39
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MARKET OVERVIEW
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MARKET OVERVIEW
Market definition
The renewable energy market consists of the consumption of electricity generated via geothermal, solar,wind and hydroelectric means, as well as through wood and waste combustion. Data are reported as net
consumption as opposed to gross consumption. Net consumption excludes the energy consumed by the
generating units. The volume of the market is calculated as the volume of electricity consumed (in billions
of kilowatt hours, kWh), and the market value has been calculated according to average annual electricity
prices. Any currency conversions used in the creation of this report have been calculated using constant
2009 annual average exchange rates.
For the purposes of this report, the global market consists of North America, South America, Western
Europe, Eastern Europe, and Asia-Pacific.
North America consists of Canada, Mexico, and the United States.
South America comprises Argentina, Brazil, Chile, Colombia, and Venezuela.
Western Europe comprises Belgium, Denmark, France, Germany, Italy, the Netherlands, Norway, Spain,
Sweden, and the United Kingdom.
Eastern Europe comprises the Czech Republic, Hungary, Poland, Romania, Russia, and Ukraine.
Asia-Pacific comprises Australia, China, India, Japan, Singapore, South Korea, and Taiwan.
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MARKET OVERVIEW
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Research highlights
The global renewable energy market generated total revenues of $436.6 billion in 2009, representing a
compound annual growth rate (CAGR) of 4.5% for the period spanning 2005-2009.
Market consumption volumes increased with a CAGR of 4% between 2005-2009, to reach a total of
3,067.8 billion kilowatt-hours(kWh) in 2009.
The performance of the market is forecast to decelerate, with an anticipated CAGR of 0.9% for the five-
year period 2009-2014, which is expected to drive the market to a value of $455.6 billion by the end of
2014.
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MARKET OVERVIEW
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Market analysis
The global renewable energy market was growing, albeit at a decelerating rate, until 2009 when there
was a spurt of good market growth. Decelerated growth is expected in 2010, followed by a period of
unsteady growth rates through to 2014.
The global renewable energy market generated total revenues of $436.6 billion in 2009, representing a
compound annual growth rate (CAGR) of 4.5% for the period spanning 2005-2009. In comparison, the
European and Asia-Pacific markets grew with CAGRs of 6.2% and 4.4% respectively, over the same
period, to reach respective values of $137.7 billion and $102.7 billion in 2009.
Market consumption volumes increased with a CAGR of 4% between 2005-2009, to reach a total of
3,067.8 billion kilowatt-hours(kWh) in 2009. The market's volume is expected to rise to 3,842.5 billion
kilowatt-hours(kWh) by the end of 2014, representing a CAGR of 4.6% for the 2009-2014 period.
The performance of the market is forecast to decelerate, with an anticipated CAGR of 0.9% for the five-
year period 2009-2014, which is expected to drive the market to a value of $455.6 billion by the end of2014. Comparatively, the European market will increase with a CAGR of 2.5%, and the Asia-Pacific
market will decline with a compound annual rate of change (CARC) of -0.6%, over the same period, to
reach respective values of $155.6 billion and $99.4 billion in 2014.
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MARKET VALUE
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MARKET VALUE
The global renewable energy market grew by 5.7% in 2009 to reach a value of $436.6 billion.
The compound annual growth rate of the market in the period 200509 was 4.5%.
Table 1: Global renewable energy market value: $ billion, 200509
Year $ billion billion % Growth
2005 366.6 263.6
2006 406.1 292.0 10.8%
2007 410.9 295.5 1.2%
2008 413.0 297.0 0.5%
2009 436.6 314.0 5.7%
CAGR: 200509 4.5%
Source: Datamonitor D A T A M O N I T O R
Figure 1: Global renewable energy market value: $ billion, 200509
Source: Datamonitor D A T A M O N I T O R
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MARKET VOLUME
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MARKET VOLUME
The global renewable energy market grew by 4.3% in 2009 to reach a volume of 3,067.8 billion kilowatt
hours (kWh).
The compound annual growth rate of the market in the period 200509 was 4%.
Table 2: Global renewable energy market volume: billion kilowatt hours (kWh), 200509
Year billion kilowatt hours (kWh) % Growth
2005 2,625.4
2006 2,745.0 4.6%
2007 2,794.9 1.8%
2008 2,940.3 5.2%
2009 3,067.8 4.3%
CAGR: 200509 4.0%
Source: Datamonitor D A T A M O N I T O R
Figure 2: Global renewable energy market volume: billion kilowatt hours (kWh), 200509
Source: Datamonitor D A T A M O N I T O R
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MARKET SEGMENTATION II
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MARKET SEGMENTATION II
The Americas accounts for 44.9% of the global renewable energy market value.
Europe accounts for a further 31.5% of the global market.
Table 3: Global renewable energy market segmentation II: % share, by value, 2009
Category % Share
Americas 44.9%
Europe 31.5%
Asia-Pacific 23.5%
Total 100%
Source: Datamonitor D A T A M O N I T O R
Figure 3: Global renewable energy market segmentation II: % share, by value, 2009
Source: Datamonitor D A T A M O N I T O R
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COMPETITIVE LANDSCAPE
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COMPETITIVE LANDSCAPE
The renewable energy market will be analyzed taking utility companies supplying electricity generated
from renewable energy sources as players. The key buyers will be taken as industrial, household and
other end-users, and biomass fuel producers and manufacturers of power-generating equipment and
other heavy electrical equipment, including power turbines, heavy electrical machinery intended for fixed-
use and large electrical systems, as the key suppliers.
For most countries, fossil fuel or nuclear dominates their power generation mix. The renewable energy
market is correspondingly small, although in some cases hydropower can be significant: hydro dominates
generation in Canada and Brazil, for example. Also, strong market growth is accompanied by investment
in new renewable generation assets, such as Chinas increasing development of wind and photovoltaic
capacity.
There is wide variation in the extent of retail market liberalization. In countries such as the UK, all end-
users including the residential sector are free to choose their electricity retailer, and are often able toselect either conventional power or green electricity generated from renewable sources. This tends to
increase buyer power and allows genuine rivalry between retailers of renewable energy, it also
encourages new entrants.
Elsewhere, there can be little or no freedom of choice of retailer, and even when generation includes
renewables in the mix, end-users are not able to opt for purely green electricity. Buyer power is then
weaker (although the prevalence of price regulation in such markets effectively increases buyer power
from the perspective of electricity retailers). Also, rivalry is diminished, and the threat from new entrants
may be low, or even zero, depending on the legal framework of the market.
Buyers in this market are primarily individual consumers, although there is also a demand for renewable
energy from the industrial and commercial sectors. The high number of buyers in this market, coupled
with their small size, diminishes the impact on market players of losing one consumer and weakens buyer
power considerably. However, although renewable energy is differentiated from conventional energy, in
the sense that customers may choose it because of its lower environmental impact, it is more difficult to
differentiate within the renewables segment itself, and price therefore becomes more significant to buyers.
Where moves to privatize and liberalize electricity markets have been halted or even reversed,
consumers tend to have little choice of electricity retailer. This decreases buyer power in the renewable
energy market, which is generally assessed as weak.
For renewable energy retailers that are vertically integrated, key suppliers include construction and
engineering contractors that can provide generation facilities such as wind farms and hydropower dams.
For those that operate solely in the retail market, suppliers include generation companies that offer them
wholesale electricity. Supplier power is weak to moderate.
Healthy market growth in this market would tend to favor new entrants. However, the barriers to market
entry can be significant. Firstly, the market structure may be such that new entrants are simply not
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COMPETITIVE LANDSCAPE
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permitted. Where they are, an additional barrier may be the need to invest in building or acquiring
renewable energy generation capacity. For new entrants that will operate purely as retailers, it may be
difficult to obtain access to the distribution infrastructure, and in many countries it is observed that the
propensity to switch retailer can be minimal, even where it is possible. Overall, the threat of new entrants
is moderate, although in particular countries it may be stronger than this.
The most direct substitute for renewable energy is electricity generated in fossil-fuel or nuclear power
stations. Although electricity itself is always the same no matter how it is generated, buyers deciding
between the merits of renewable and non-renewable energy will consider issues such as environmental
impact and long-term energy security.
Although traditionally cheaper than renewable sources of energy, oil and gas prices are now volatile and
have been rising at unprecedented rates in recent years, making them less desirable as primary energy
sources. At the same time, thanks to technological advances, renewable energy is becoming more
economically viable - the cost of utility-scale wind power, for example, has dropped more than 80% in last
20 years. Retail prices of electricity are likely to reflect to some extent the wholesale price, which itself isinfluenced by the cost of the primary energy sources used.
Renewably-generated electricity, like non-renewable, is also threatened by the direct use of energy
sources such as coal and gas. Switching costs here are much more significant, as users may need to buy
different equipment in order to start using gas rather than electricity.
Overall, the threat of substitutes is assessed as moderate.
Again, rivalry varies from country to country. Overall, good rates of revenue growth tend to ease rivalry. In
most countries, it is common to see a small number of large companies holding significant market share,
even if the retail market is actually fragmented and so this share is not dominating. Companies with
significant generation assets, such as wind farms, may find it hard to divest them, forcing them to remainin the renewables market. Overall, rivalry is moderate.
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LEADING COMPANIES
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LEADING COMPANIES
FPL Group, Inc
Table 4: FPL Group, Inc: key facts
Head office: 700 Universe Boulevard, Juno Beach, Florida 33408, USA
Telephone: 1 561 694 4000
Fax: 1 561 694 4999
Website: www.fplgroup.com
Financial year-end: December
Ticker: FPL
Stock exchange: New York
Source: company website D A T A M O N I T O R
FPL Group is one of the leading providers of electricity-related services in the US. The company's
principal subsidiary, Florida Power & Light Company (FPL), serves approximately 4.5 million customer
accounts. FPL Group is headquartered in Juno Beach, Florida and employs about 15,000 people.
Its other subsidiary NextEra Energy Resources is a clean-energy provider with natural gas, wind, solar,
hydroelectric, and nuclear power plants in operation in 26 states in the US and in Canada FPL FiberNet
provides fiber optic services to FPL, wireless carriers, telecommunications companies, and other
customers throughout Florida.
FPL Group generates through three reportable segments: FPL, NextEra Energy Resources, and
corporate and other.
FPL is a wholly-owned subsidiary of the FPL Group and was incorporated in Florida in 1925. It is a rate-
regulated utility engaged in the generation, transmission, distribution, and sale of electric energy. FPL
supplies electric services to a population of more than 8.7 million throughout most of the east and lower
west coasts of Florida.
In FY2008, FPL served approximately 4.5 million customer accounts. Of these 53% represent residential
customers, 40% commercial, 3% industrial, and 4% other customers. FPL holds 176 franchise
agreements to provide electric service in various municipalities and counties in Florida with varying
expiration dates through 2039. Of the 176 franchise agreements, three expire in 2009, 14 expire in 2010
and 159 expire during the period 2011 through 2039.
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LEADING COMPANIES
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At December 31, 2008, FPL's resources for serving load consisted of 24,997 megawatts (MW), of which
22,087 MW were from FPL-owned facilities and 2,910 MW was available through purchased power
contracts. FPL's 2008 fuel mix (for FPL-owned assets) comprised 53% natural gas, 22% nuclear, 5% oil,
6% coal, and 14% purchased power.
The subsidiary also owns and operates electric transmission and distribution lines. These include 48,287
pole miles overhead and 25,070 cable miles underground (trench and submarine). In addition, FPL owns
and operates 581 substations, one of which is jointly owned.
FPL owns and operates 83 units that utilize fossil fuels such as natural gas and/or oil, and has a joint-
ownership interest in three coal units. FPL also owns, or has undivided interests in, and operates four
nuclear units, two at Turkey Point and two at St. Lucie, with a total net generating capability of 2,939 MW.
FPL leases nuclear fuel for all four of its nuclear units. The contracts for the supply, conversion,
enrichment, and fabrication of FPL's nuclear fuel have expiration dates ranging from 2009 through 2022.
Energy Marketing and Trading (EMT), a division of FPL, buys and sells wholesale energy commodities,
such as natural gas, oil, and electricity. EMT procures natural gas and oil for FPL's use in power
generation and sells excess gas, oil, and electricity. EMT also uses derivative instruments, such as
swaps, options, and forwards, to manage the commodity price risk inherent in fuel and electricity sales
and purchases.
NextEra Energy Resources (formerly known as FPL Energy) is a wholly-owned subsidiary of FPL Group.
Through its subsidiaries, NextEra Energy Resources owns, develops, constructs, manages, and operates
primarily domestic electric-generating facilities in wholesale energy markets. NextEra Energy Resources
also provides full energy and capacity requirements services to distribution utilities in certain markets and
owns a retail electric provider in Texas. The subsidiary operates in 26 states in the US and in Canada. At
December 31, 2008, NextEra Energy Resources managed or participated in the management of
approximately 96% of its projects, which represented approximately 99% of the net generating capacity in
which NextEra Energy Resources has an ownership interest.
At December 31, 2008, NextEra Energy Resources had ownership interests in operating independent
power projects with a net generating capability totaling 16,928 MW. Of the 16,928 MW generation
capacity in FY2008, 39% represented natural gas, 38% wind, 15% nuclear, 5% oil, 2% hydro, and 1%
others.
NextEra Energy Resources' assets can be categorized into the following three groups: wind, non windcontracted, and merchant.
At the end of FY2008, NextEra Energy Resources had ownership interests in wind plants with a combined
capacity of approximately 6,375 MW in Canada and 16 states in the US. NextEra Energy Resources' non
wind contracted assets generate 3,537 MW of power. This category includes all projects, other than wind,
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LEADING COMPANIES
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with contracts for substantially all of their output. Approximately 1,825 MW of this capacity is natural gas-
fired generation. The remaining 1,712 MW uses a variety of fuels and technologies such as nuclear,
waste-to-energy, oil, solar, coal, and petroleum coke.
NextEra Energy Resources' portfolio of merchant assets includes 7,016 MW of owned nuclear, natural
gas, oil, and hydro generation, of which 2,789 MW is located in the ERCOT (Electric Reliability Council of
Texas) region, 2,751 MW in the NEPOOL (New England Power Pool) region, and 1,476 MW in other
regions. The merchant assets include 965 MW of peak generating facilities. Merchant assets are plants
that do not have long-term power sales agreements to sell their output and therefore require active
marketing and hedging.
NextEra Energy Resources' assets also include nuclear power plants. NextEra Energy Resources owns
undivided interests in three nuclear power plants, with a total net generating capability of 2,545 MW.
These plants include Seabrook, a 1,098 MW merchant power plant in New Hampshire; Duane Arnold, a
424 MW contracted power plant in Iowa which sells substantially all of its output under a long-termcontract; and Point Beach Units 1 and 2 contracted power plants in Wisconsin which together produce
1,023 MW of electricity.
FPL Energy Power Marketing (PMI), a subsidiary of NextEra Energy Resources, buys and sells wholesale
energy commodities, such as natural gas, oil, and electricity. Its primary role is to manage the commodity
risk of NextEra Energy Resources' portfolio and to sell the output from NextEra Energy Resources' plants
that have not been sold under long-term contracts. PMI procures natural gas and oil for NextEra Energy
Resources' use in power generation, as well as substantially all of the electricity needs for NextEra
Energy Resources' retail operations in Texas.
PMI uses derivative instruments such as swaps, options, and forwards to manage the risk associated with
fluctuating commodity prices and to optimize the value of NextEra Energy Resources' power generation
assets. PMI also provides full energy and capacity requirements services to distribution utilities in certain
markets and engages in energy trading activities. Full energy and capacity requirements services include
load-following services, which require the supplier of energy to vary the quantity delivered based on the
load demand needs of the customer, as well as various ancillary services. At December 31, 2008, PMI
provided full energy and capacity requirements services totaling approximately 3,300 MW of peak load in
the NEPOOL, PJM, and ERCOT markets.
FPL Group's corporate and other segment represents other business activities, primarily FPL FiberNet,
which is not separately reportable.
FPL FiberNet was formed in 2000 to enhance the value of FPL Group's fiber optic network assets that
were originally built to support FPL operations. Accordingly, in 2000, FPL's existing fiber optic lines were
transferred to FPL FiberNet. FPL FiberNet leases wholesale fiber optic network capacity and dark fiber to
FPL and other customers, primarily telephone, wireless carriers, internet, and other telecommunications
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LEADING COMPANIES
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companies. FPL FiberNet's primary business focus is the Florida metropolitan (metro) market. Metro
networks cover Miami, Fort Lauderdale, West Palm Beach, Tampa, St. Petersburg, Orlando, and
Jacksonville. FPL FiberNet also has a long-haul network within Florida that leases bandwidth at
wholesale rates. At December 31, 2008, FPL FiberNet's network consisted of approximately 2,745 route
miles, which interconnect major cities throughout Florida.
The group's operations also include FPL Group Capital, which is not a reporting segment of the FPL
Group. FPL Group Capital, a wholly-owned subsidiary of the FPL Group, holds the capital stock, or has
equity interests in FPL Group's operating subsidiaries other than FPL , and provides funding for those
subsidiaries, including NextEra Energy Resources.
Key Metrics
The company recorded revenues of $16,410 million in the fiscal year ending December 2008, an increase
of 7.5% compared to fiscal 2007. Its net income was $1,639 million in fiscal 2008, compared to a netincome of $1,312 million in the preceding year.
More recent financial information was not available for this company at the time of publication.
Table 5: FPL Group, Inc: key financials ($)
$ million 2004 2005 2006 2007 2008
Revenues 10,522.0 11,846.0 15,710.0 15,263.0 16,410.0
Net income (loss) 896.0 901.0 1,281.0 1,312.0 1,639.0
Total assets 28,324.0 32,990.0 35,991.0 40,123.0 44,821.0
Total liabilities 12,769.0 16,390.0 16,470.0 29,388.0 33,140.0
Employees 11,921 12,391 13,344 14,600 15,061
Source: company filings D A T A M O N I T O R
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LEADING COMPANIES
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Table 6: FPL Group, Inc: key financial ratios
Ratio 2004 2005 2006 2007 2008
Profit margin 8.5% 7.6% 8.2% 8.6% 10.0%Revenue growth 9.3% 12.6% 32.6% (2.8%) 7.5%
Asset growth 5.1% 16.5% 9.1% 11.5% 11.7%
Liabilities growth 13.6% 28.4% 0.5% 78.4% 12.8%
Debt/asset ratio 45.1% 49.7% 45.8% 73.2% 73.9%
Return on assets 3.2% 2.9% 3.7% 3.4% 3.9%
Revenue per employee $882644 $956016 $1177308 $1045411 $1089569
Profit per employee $75161 $72714 $95998 $89863 $108824
Source: company filings D A T A M O N I T O R
Figure 4: FPL Group, Inc: revenues & profitability
Source: company filings D A T A M O N I T O R
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LEADING COMPANIES
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Figure 5: FPL Group, Inc: assets & liabilities
Source: company filings D A T A M O N I T O R
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LEADING COMPANIES
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Electricit de France (EDF)
Table 7: Electricit de France (EDF): key facts
Head office: 22-30 avenue de Wagram, 75382 Paris cedex 08, FRA
Telephone: 33 1 40 42 22 22
Fax: 33 1 40 42 79 40
Website: www.edf.com
Financial year-end: December
Ticker: EDF
Stock exchange: Paris
Source: company website D A T A M O N I T O R
EDF (Electricit de France) is an integrated energy operator involved in generation, distribution, and
transmission of electrical energy. The group supplies energy and services to 38.1 million customers. The
group primarily operates in France, the UK, Germany, Italy, Switzerland, Poland, Hungary, Slovakia,
Austria, Spain, Belgium, the US, China, Laos, and Vietnam. EDF principally operates power plants
(hydro, thermal, nuclear, and other renewables) and distribution systems. It also has interests in research
and development facilities. It is headquartered in Paris, France and employs about 156,000 people.
EDF operates through four business segments: generation/supply, distribution, transmission, and other.
The generation/supply segment covers all expertise and assets required to generate energy and sell it to
industry, local authorities, small businesses, and residential consumers. EDF has one of the largest
generation fleet in Europe. The installed generation capacity of EDF as of December, 2008 was 148.4
gigawatts (GW). The group's generation world wide (as on December 31, 2008) was 609.9 terawatt hours
(TWh).
EDF group serves 38.1 million customers around the world. It also provides energy service through its
subsidiaries in the UK, Italy, and Germany, as well as in the rest of Europe.
EDF Energies Nouvelles, in which EDF owns a 50% stake, engages in the development, construction,
and operation of electricity generation assets in France. It also operates and maintains wind farms. EDF
Energies Nouvelles operates generation assets with total installed capacity of 2,275.3 megawatts (MW).
In the UK, the generation activities are conducted by EDF Energy, wholly owned by EDF. It owns
generation assets with an installed capacity of 4.9 GW. In Germany, EnBW (in which EDF has a 46.07%
stake) owns generation assets with an installed capacity of 15 GW; and in Italy, Edison (in which EDF has
a 48.96% stake) owns generation assets with an installed capacity of 12.1 GW.
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EDF also operates generation assets in the US through Constellation Energy, in which it acquired a
49.99% stake in FY2008. In addition, the group has generation interests in China, Laos, and Vietnam.
The distribution segment consists of managing the low and medium-voltage public distribution network. It
operates and maintains the network. It builds and maintains electricity distribution infrastructures and
manages metering operations. Several companies in EDF group are involved in the business of
distribution. Apart from France, the group is involved in electricity distribution in the UK, Germany,
Slovakia, and Hungary.
Electricite Reseau Distribution France (ERDF), a wholly-owned subsidiary of the group, operates the
distribution network in mainland France and is responsible for managing the assets under license. It
ensures that connection and access to the network is available on a non-discriminatory basis and it is
responsible for relations with the energy regulation authority. Its prices are set by ministerial order on the
basis of submissions by the French Energy Regulatory Commission (CRE). ERDF owns, generates,
maintains, and develops the electricity distribution networks comprising 596,200 kilometers (kms) of20,000 volt high voltage lines and 669,300 kms of 400 volt low voltage lines in France. ERDF also
handles distribution operations in France. It serves approximately 34,000 French municipalities (95% of
the volume of electricity distributed in France).
EDF distributes and markets electricity in Slovakia through Stredoslovenska Energetika (SSE). It has a
49% stake in SSE. SSE serves 704,755 customers through 32,340 kms of high, medium, and low-voltage
lines. EDF distributes energy in Hungary through Demasz and BERt. Demasz distributes energy to
approximately 773,000 residential customers. In Germany, the electricity is distributed by EnBW.
Transmission involves operating, maintaining, and expanding the high-voltage and very-high-voltage
electricity transmission network. The transmission network carries the electricity from the place of
generation to the distribution network and controls interconnections with the power grids of neighboring
countries.
RTE-EDF Transport, an EDF subsidiary, operates the transmission network in France and has a
transmission network of approximately 100,000 kms of high voltage, 44 cross-border lines, and ultra high
voltage grids. It operates, maintains, and develops the electricity public network. It also ensures that the
system functions reliably and adjusts production to consumption. RTE-EDF Transport prices are set by
ministerial order on the basis of submissions by the French Energy Regulatory Commission (CRE). In
Germany, the electricity is transmitted by EnBW.
The other segment consists of energy services (district heating and thermal energy services, among
others) for industry and local authorities. This category also comprises new segments aimed at boosting
electricity generation through cogeneration and renewable energy sources (like wind turbines and solar
panels). Of EDFs renewable energies, wind energy accounts for slightly less than 5% and biomass
accounts for 5%.
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Key Metrics
The company recorded revenues of $89,381 million in the fiscal year ending December 2008, an increase
of 7.8% compared to fiscal 2007. Its net income was $4,728 million in fiscal 2008, compared to a net
income of $7,812 million in the preceding year.
More recent financial information was not available for this company at the time of publication.
Table 8: Electricit de France (EDF): key financials ($)
$ million 2004 2005 2006 2007 2008
Revenues 65,059.2 70,981.4 81,945.6 82,925.9 89,380.7
Net income (loss) 867.7 4,491.4 7,793.8 7,811.9 4,727.7
Total assets 207,924.5 237,966.5 249,021.1 258,842.3 278,502.7Total liabilities 194,944.1 211,111.6 214,537.8 218,801.1 243,959.6
Source: company filings D A T A M O N I T O R
Table 9: Electricit de France (EDF): key financials ()
million 2004 2005 2006 2007 2008
Revenues 46,788.0 51,047.0 58,932.0 59,637.0 64,279.0
Net income (loss) 624.0 3,230.0 5,605.0 5,618.0 3,400.0
Total assets 149,531.0 171,136.0 179,086.0 186,149.0 200,288.0
Total liabilities 140,196.0 151,823.0 154,287.0 157,353.0 175,446.0
Source: company filings D A T A M O N I T O R
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Table 10: Electricit de France (EDF): key financial ratios
Ratio 2004 2005 2006 2007 2008
Profit margin 1.3% 6.3% 9.5% 9.4% 5.3%Revenue growth 4.2% 9.1% 15.4% 1.2% 7.8%
Asset growth 1.8% 14.4% 4.6% 3.9% 7.6%
Liabilities growth 10.3% 8.3% 1.6% 2.0% 11.5%
Debt/asset ratio 93.8% 88.7% 86.2% 84.5% 87.6%
Return on assets 0.4% 2.0% 3.2% 3.1% 1.8%
Source: company filings D A T A M O N I T O R
Figure 6: Electricit de France (EDF): revenues & profitability
Source: company filings D A T A M O N I T O R
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Figure 7: Electricit de France (EDF): assets & liabilities
Source: company filings D A T A M O N I T O R
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E.ON AG
Table 11: E.ON AG: key facts
Head office: E.ON-Platz 1, Dusseldorf 40479, DEU
Telephone: 49 211 4579 0
Fax: 49 211 4579 501
Website: www.eon.com
Financial year-end: December
Ticker: Frankfurt
Stock exchange: EOAN
Source: company website D A T A M O N I T O R
E.ON is a Germany-based public utility company engaged in generation, transmission, and distribution of
electricity as well as the transmission, storage, and sale of natural gas. The company primarily operates
in Europe and in the US. It is headquartered in Dusseldorf, Germany, and employs about 85,000 people.
E.ON's core energy business is divided into seven market units: Central Europe, Pan-European gas, UK,
Nordic, US Midwest, energy trading, and new markets.
E.ON Energie is the lead company of the Central Europe market unit. E.ON Energie is responsible for
E.ON's electricity business and its gas distribution and sales business in Central Europe. E.ON Energie
has operations in many Central European countries, including Germany, Belgium, the Netherlands,
France, Hungary, Slovakia, and the Czech Republic.
The Central Europe market unit owns interests in and operates power stations with a total attributable
generation capacity of 28,749 megawatts (MW). Through its own operations as well as through
distribution companies, in most of which it owns a majority interest, E.ON Energie also distributes
electricity and gas to regional and municipal utilities, commercial and industrial customers, and residential
customers. In FY2008, E.ON Energie supplied power and gas to about 17 million customers in and
outside Germany, about half of them in Central Europe West and half in Central Europe East.
Central Europe market unit's sources of owned power generation on 138.3 billion kilowatt hours (KWh) by
energy source include: nuclear (45%), coal (39%), oil and natural gas (7%), hydro (6%), and other (3%).
E.ON Energie operates substantial distribution systems across Europe. It has about 725,000 kilometers
(kms) of low and intermediate voltage electricity lines and about 112,000 kms of gas distribution pipelines.
E.ON Energie also has about 45,000 kms of high-voltage electricity lines. E.ON Netz operates a high-
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voltage transmission system in Germany (its ultrahigh-voltage transmission system in Germany with a
total length of about 10,600 kms is being held for sale).
E.ON Energie's subsidiary, E.ON Vertrieb Deutschland (E.ON Sales Germany), manages its sales
operations centrally. Two shared-services companies, E.ON Best Service and E.ON Service Plus, are
responsible for the service side of the business, from meter reading and billing to customer care and
collections management. E.ON Energie's another subsidiary, E WIE EINFACH (E as in Easy), is
Germany's only nationwide supplier of power and gas service for residential customers. In 2008,
EINFACH supplied 590,000 new customer accounts.
In FY2008, E.ON Energie sold 376.2 billion KWh of electricity and 130.2 billion KWh of gas.
E.ON Ruhrgas is the lead company of the Pan-European Gas market unit. E.ON Ruhrgas is one of the
largest non-state-owned gas companies in Europe and the largest gas company in Germany. E.ON
Ruhrgas is active along the entire value chain of Europe's gas market: gas exploration and production,gas transport and storage, and gas wholesale and supply.
E.ON Ruhrgas imports gas from Russia, Norway, the Netherlands, the UK, and Denmark, and also
purchases gas from domestic sources. E.ON Ruhrgas sells this gas to regional and supraregional
distributors, municipal utilities, and industrial customers in Germany, and also delivers gas to customers
in other European countries.
In addition, E.ON Ruhrgas is active in gas transmission within Germany via a network of gas pipelines,
and operates a number of underground storage facilities in Germany. E.ON Gastransport is the owner
and operator of E.ON's pipelines and operates a gas supply network with a total length of more than
11,552 kms. It also includes 70 compressor units in 22 technologically advanced compressor stations.
E.ON Ruhrgas also operates underground storage facilities with a total working gas capacity of 5.6 billion
cubic meters (bcm). The working gas capacity of E.ON Ruhrgas' owned, jointly-owned, project-company-
owned, and leased underground storage facilities is approximately 9.4 bcm, (5.6 billion cubic meters in
Germany). The maximum withdrawal rate of these facilities is 8.9 million cubic meters per hour (5.9
million cubic meters per hour in Germany). E.ON Gas Storage, a subsidiary of E.ON, manages E.ON's
storage operations throughout Europe. As part of the reorganization, E.ON Ruhrgas has transferred to
E.ON Gas Storage the ownership of its storage facilities in Germany along with the storage contracts for
these facilities. E.ON Gas Storage has also taken over ownership of E.ON Foldgaz Storage in Hungary
and the storage contracts of E.ON D-Gas Storage in the Netherlands. E.ON UK's stakes in the Holfordand Whitehill gas storage projects along with two long-term storage contracts were transferred to E.ON
Gas Storage UK, a newly created E.ON Gas Storage subsidiary.
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gas, biogas, bio methane, hydrogen, and liquefied petroleum gas or LPG) to more than 25,000
customers, mainly in southern Sweden. E.ON Varme provides district heating to 35,000 customers.
E.ON Nordic owns interests in power stations with attributable generation capacity of 7,229 MW. E.ON
Nordic sold 54.7 billion kWh of electricity in FY2008, The Nordic market unit had an owned generation of
28.3 billion KWh, which included: nuclear (53%), hydro (42%), coal (3%), and oil/natural gas (2%). In
FY2008, E.ON Nordic also sold 5.1 billion KWh of gas. At the end of 2008, E.ON Nordic supplied
approximately 1 million electricity, gas, and heat customer accounts.
E.ON Vattenkraft, a subsidiary of E.ON, owns or has stakes in more than 100 hydro plants in Sweden
with a total attributable generating capacity of 2.8 GW. E.ON'S other main generation resource in the
Nordic countries is nuclear power. Through E.ON Karnkraft, the company has stakes in all nuclear power
stations in Sweden. Its attributable generating capacity from these assets totals 2.6 GW.
E.ON US is the lead company of the US Midwest market unit. E.ON US is a diversified energy servicescompany with operations primarily in Kentucky. Its operations extend from generation to retail. E.ON US's
two operating subsidiaries, Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company
(KU), are principally engaged in the regulated electric and gas utility business in Kentucky. These
businesses give E.ON a significant generation portfolio in Kentucky and supply about 927,000 customers
with electricity and about 314,000 with natural gas.
E.ON US is Kentucky's largest electricity producer. Its ten generation facilities have an aggregate
installed capacity of approximately 7.5 GW, of which 5.3 GW is coal-fired, 2.2 GW is gas-fired, and 0.08
GW is hydro. E.ON U.S. predominantly uses coal-fired generating capacity; its gas-fired capacity is
primarily to provide peakload electricity.
E.ON US sold 36.4 billion KWh of electricity and 13.9 billion KWh of gas in FY2008.
The energy trading market unit combines all of E.ON's European trading activities for electricity, gas, coal,
oil, and carbon allowances. The company is responsible for commodity risk management and the
optimization of E.ON's assets three years prior to delivery. E.ON energy trading operates across Europe's
liquid energy markets and is responsible for managing the E.ON's commodity position in these markets. It
also conducts optimization (fuel procurement, generation fleet and gas portfolio management, and sales
procurement) and, within clearly defined limits, proprietary trading. As an asset-backed trader, E.ON
energy trading commercializes E.ON's European asset position consisting of more than 60 GW of electric
generating capacity and more than 1,000 TWh of natural gas.
New markets unit of E.ON is further comprised of four units: climate and renewables market unit, Russia
market unit, Italy market unit, and Spain market unit.
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The climate and renewables market unit is responsible for the company's global renewables and carbon-
sourcing businesses. In FY2008, this unit's owned generation was 3.2 billion kWh by energy source (it
does not operate large-scale hydroelectric plants), of which 92% was wind and 8% was other. In FY2008,
this market unit sold 4.7 billion KWh of electricity.
E.ON Russia Power, the lead company of the Russia market unit, oversees E.ON's electricity business in
Russia. E.ON's Russian portfolio consists of generating capacity in growing, industrialized regions of the
country (Central Russia, Ural, and Western Siberia). Through OGK-4, the company has around 8.3 GW of
installed generating capacity in these industrialized regions. The E.ON Russia market unit has an owned
generation of 56.7 billion KWh of which natural gas contributes 81% and coal 19%. In FY2008, E.ON
Russia market unit sold 58.3 billion KWh of electricity.
E.ON Italia, the lead company of the Italy market unit, manages E.ON's power and gas business in Italy.
Its generation fleet consists mainly of gas, coal, hydro, and wind assets. E.ON also operates local gas
pipeline systems, mainly in northern Italy. E.ON's local distribution companies (LDCs) in Itlay, E.ON ReteMediterranea, E.ON Rete Laghi, E.ON Rete Padana, E.ON Rete Triveneto, and E.ON Rete Orobica,
deliver natural gas to 618,000 customer accounts. They operate 9,500 km of pipeline in 303 concession
districts, primarily in northern Italy.
The E.ON Italy market unit has an owned generation of 11.4 billion KWh of which oil/natural gas
contributes 68%, coal 25%, and hydro 7%. In FY2008, E.ON Italy market unit sold 24.7 billion KWh of
electricity and 32.6 billion KWh of gas.
E.ON Espana, the lead company of the Spain market unit, manages E.ON's operations on the Iberian
peninsula. E.ON Espana was created in June 2008 by E.ON's acquisition of Viesgo, a local electric utility,
and additional Endesa generation assets in Spain. It supplies electricity to about 660,000 customers in
northern Spain. The E.ON Spain market unit has an owned generation of 3.9 billion KWh of which natural
gas contributes 45%, coal 41%, and hydro 14%. In FY2008, E.ON Spain market unit sold 5.4 billion KWh
of electricity. E.ON Espana operates an electric distribution system with a total system length of 30,300
kms in the northern Spanish provinces of Asturias, Castilla-Leon, Galicia, and Cantabria.
E.ON also has a corporate center reporting segment, whose main tasks are to manage E.ON as an
integrated energy company, chart E.ON's strategic course, define its financial policy and initiatives,
manage business issues that transcend individual markets, manage risk, and continually optimize the
group's business portfolio.
Key Metrics
The company recorded revenues of $120,631 million in the fiscal year ending December 2008, an
increase of 26.2% compared to fiscal 2007. Its net income was $2,230 million in fiscal 2008, compared to
a net income of $10,740 million in the preceding year.
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More recent financial information was not available for this company at the time of publication.
Table 12: E.ON AG: key financials ($)
$ million 2004 2005 2006 2007 2008
Revenues 64,643.5 78,064.7 89,119.3 95,571.2 120,631.0
Net income (loss) 6,033.4 10,299.5 8,457.1 10,740.3 2,230.4
Total assets 158,604.5 175,985.9 177,394.5 190,908.8 218,873.4
Total liabilities 111,938.9 114,130.4 106,137.7 114,250.0 164,936.9
Employees 69,710 74,788 80,453 83,434 84,711
Source: company filings D A T A M O N I T O R
Table 13: E.ON AG: key financials ()
million 2004 2005 2006 2007 2008
Revenues 46,489.0 56,141.0 64,091.0 68,731.0 86,753.0
Net income (loss) 4,339.0 7,407.0 6,082.0 7,724.0 1,604.0
Total assets 114,062.0 126,562.0 127,575.0 137,294.0 157,405.0
Total liabilities 80,502.0 82,078.0 76,330.0 82,164.0 118,616.0
Source: company filings D A T A M O N I T O R
Table 14: E.ON AG: key financial ratios
Ratio 2004 2005 2006 2007 2008
Profit margin 9.3% 13.2% 9.5% 11.2% 1.8%
Revenue growth (5.3%) 20.8% 14.2% 7.2% 26.2%
Asset growth 2.0% 11.0% 0.8% 7.6% 14.6%
Liabilities growth (1.9%) 2.0% (7.0%) 7.6% 44.4%
Debt/asset ratio 70.6% 64.9% 59.8% 59.8% 75.4%
Return on assets 3.8% 6.2% 4.8% 5.8% 1.1%
Revenue per employee $927320 $1043813 $1107718 $1145471 $1424030Profit per employee $86550 $137716 $105118 $128728 $26329
Source: company filings D A T A M O N I T O R
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Figure 8: E.ON AG: revenues & profitability
Source: company filings D A T A M O N I T O R
Figure 9: E.ON AG: assets & liabilities
Source: company filings D A T A M O N I T O R
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RWE AG
Table 15: RWE AG: key facts
Head office: Opernplatz 1, 45128 Essen, DEU
Telephone: 49 201 12 00
Fax: 49 201 12 15199
Website: www.rwe.com
Financial year-end: December
Ticker: RWE; RWEOY
Stock exchange: Frankfurt Ticker; OTC Bulletin Board Market
Source: company website D A T A M O N I T O R
RWE AG (RWE) is the management holding company of the RWE group. RWE is an integrated electricity
and gas group that operates in Germany, the UK, and Central Eastern Europe. RWE is headquartered in
Essen, Germany, and it employs about 66,000 people.
RWE operates through the following five business divisions: RWE Power, RWE Dea, RWE Supply &
Trading, RWE Energy, and RWE npower. RWE also operates through its 'other/consolidation' division.
RWE supplies more than 14 million customers with electricity and 6 million customers with gas. .In
FY2008, RWE had a total installed capacity of 45,196 megawatt (MW). In the same period, RWE sold
317.1 billion kilowatt-hours (kWh) of electricity and 327.8 billion kilowatt-hours of gas.
RWE Power is Germany's biggest power producer and one of the largest power producers in Continental
Europe. It also mines lignite and generates electricity from coal, nuclear fuel, and gas The generation of
RWE Power draws on a broad range of energy sources: nuclear energy and lignite extracted from the
company's own opencast mines in Rhineland in the base load; and hard coal- and gas-fired power plants;
as well as hydropower stations in the mid-merit and peak load. Solid fuels and filter coke are also
produced from lignite.
In FY2008, RWE Power had a total installed capacity of 33,033 MW. In FY2008, RWE Power contributed
180.3 billion kWh of RWE's total in-house electricity production, representing a share of 80%. This
includes electricity generated from power plants not owned by RWE that it can deploy at its discretion on
the basis of long-term agreements.
In FY2008, RWE Power sold 13.5 billion kWh of electricity to external customers, out of which it sold 0.3
billion kWh to its private and commercial customers, and 13.2 billion kWh to distributors.
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RWE Dea is an international operator in the field of exploration and production of natural gas and crude
oil. It operates production facilities in Germany, the UK, Norway, Denmark, and Egypt. It also holds
exploration licenses in Algeria, Libya, Mauretania, Ireland, and Poland. In Germany, RWE Dea also
operates high-volume underground storage facilities for natural gas.
In FY2008, RWE Dea produced 3,325 million cubic meters of gas and 2,518 thousand cubic meters of oil.
In the same period, RWE Dea sold 20.2 billion kWh of gas to its customers, out of which it sold 2.7 billion
kWh of gas to its industrial and corporate customers, and 17.5 billion kWh of gas to distributors.
RWE Supply & Trading was created in FY2008 by combining RWE Trading and RWE Gas Midstream
businesses. The division is responsible for the commercial optimization of all of RWE's non-regulated
midstream gas activities. These consist of the purchase, transmission, and storage of gas as well as the
liquefied natural gas (LNG) business. In addition, as Europe's largest energy trader, the division is RWE's
hub for tradable commodities such as electricity, gas, coal, oil, and carbon dioxide (CO2) emissions
certificates. RWE Supply & Trading was put in charge of RWE's key account sales business (RWE KeyAccount) from FY2009. RWE Supply & Trading is one of the leading European energy traders and holds
sixth position in the European gas market. RWE Supply & Trading operates trading floors in Essen,
Swindon, London, and Prague.
RWE Energy is RWE group's sales and grid company for Continental Europe. In a total of 12 regions,
including six in other Continental European markets, RWE Energy offers electricity, gas, water, and
related services from a single source. Customers include residential households, commercial operations,
business and industrial customers, and municipal and regional utilities. Supraregional electricity and gas
grid operations as well as the storage of gas are handled by independent companies. In FY2008, sales
totaled 179.1 billion kWh of electricity and 242.1 billion kWh of gas. As of December 31, 2008, RWE
Energy supplied electricity to 10.2 million customers, 7.0 million of whom were in Germany. RWE Energy
provides electricity to 2.2 million customers in Hungary and 0.9 million in Poland. In FY2008, RWE Energy
contributed 3.1 billion kWh of the power produced by the RWE group.
By the end of 2008, RWE Energy's fully consolidated companies were supplying gas to 3.6 million
customers. Its gas customer base in Germany totaled one million. RWE Energy supplies 2.3 million
customers with gas in the Czech Republic and nearly 0.3 million in the Netherlands.
The northern region of Germany is serviced by RWE Westfalen-Weser-Ems, based in Dortmund and a
regional company under the umbrella of RWE Energy. RWE Westfalen-Weser-Ems supplies its
customers with electricity, gas, water, and related services from a one-stop shop. The service territory ofthe central region is catered for by RWE Rhein-Ruhr together with Emscher Lippe Energie (ELE), Duren
municipal utility, and rhenag, Rheinische Energie Aktiengesellschaft.
Envia Mitteldeutsche Energie is the leading regional energy service provider in the new federal states in
the east of Germany. The company supplies customers with electricity, heat, water/wastewater services,
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telecommunications, and energy-related services. The grid territory covers Saxony, Saxony-Anhalt,
Brandenburg, and parts of Thuringia. In the western region, VSE in Saarbrucken supplies customers with
electricity and gas, together with Pfalzwerke. The southern region is serviced by Lechwerke (LEW), a
leading energy service provider in Bavarian Swabia. The southwestern region includes the federal states
of Hesse, Baden-Wurttemberg, and parts of Rhineland-Palatinate and Bavaria. Electricity and gas are
supplied there by Suwag Energie together with KEVAG.
Moreover, RWE Transportnetz Strom pools all the activities relating to the extra-high voltage system,
while RWE Transportnetz Gas bundles the German transport activities of the supra-regional and regional
natural gas transmission systems. RWE Transportnetz Strom, with some 11,300 kilometers of network
assets, owns Germany's longest extra-high voltage grid.
RWE Transgas is responsible for the energy business of RWE Energy in the Czech Republic. The
company coordinates gas distribution in the Czech Republic through eight 'GDCs' (gas distribution
companies) and controls the import, transit, and gas pipeline business. In Slovakia, the companyoperates through the electricity utility VSE, based in Kosice, the country's second largest city. RWE
Polska is the operating company of RWE Energy in Poland. The Polish electricity, water, and gas
business of RWE is pooled under its umbrella.
RWE Energy Hungaria is the regional operating company of RWE Energy in Hungary. The electricity,
gas, and water supply operations are run by six companies. ELMU and EMASZ serve the capital
Budapest with its surrounding area and the northeast of Hungary with electricity. The companies FOGAZ
and TIGAZ operate in the gas business. Through its shares in Budapest's municipal waterworks (Fovarosi
Vizmuvek), RWE Energy also has an interest in the Hungarian water market.
RWE Energy Nederland is the regional operating company of RWE Energy in the Netherlands. Together
with the companies RWE Gas Verkoopmaatschappij, RWE Obragas, and RWE Haarlemmermeergas,
RWE Energy Nederland supplies residential customers with natural gas and business customers with
electricity and natural gas. In Austria, RWE Energy holds shares in the regional utility Kelag-Karntner
Elektrizitats through the holding company Karntner Energieholding Beteiligungs (KEH).
RWE npower is an integrated energy company in the UK. It supplies gas and electricity through its retail
business, npower. RWE npower operates its power stations under the npower retail brand. RWE npower
is responsible for power generation (with the exception of energy from renewables) as well as electricity
and gas supply in the UK. In FY2008, the company had an installed capacity of 10,145 MW. In FY2008,
RWE npower generated 36.7 billion kWh of electricity; and sold 52.5 billion kWh of electricity to itscustomers, out of which it sold 21.4 billion kWh to its private and commercial customers, and 31.1 billion
kWh to industrial and corporate customers. At the end of 2008, RWE npower served 4.2 million electricity
customers in the UK and had a 15% share of the UK electricity household market.
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LEADING COMPANIES
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In FY2008, RWE npower sold 57.5 billion kWh of gas to its customers, out of which it sold 48.5 billion
kWh of gas to its private and commercial customers, and 9.0 billion kWh of gas to industrial and corporate
customers. At the end of 2008, RWE npower provided gas to 2.6 million customers and had a 12% share
of the UK gas household customer market. The number of customers to whom RWE npower delivers both
electricity and gas was 2.2 million.
Besides the above-mentioned five divisions, RWE also operates through 'other/consolidation' division.
The renewable energy activity of RWE Innogy is presented under this division. This division also covers
other activities not allocable to the divisions presented separately, primarily consisting of the shared
services provided by RWE IT, RWE Consulting, and RWE Service.
RWE Innogy is engaged in pooling renewable energy activities. It mainly consists of onshore and offshore
wind farms in Europe as well as hydroelectric power plants and biomass projects. RWE Innogy is in
charge of all of RWE's renewable activities. The division focuses on wind, hydropower, and biomass and
had an installed capacity of 1, 225 MW in FY2008. For the same period, RWE Innogy generated 4 billionkWh of electricity.
Key Metrics
The company recorded revenues of $68,066 million in the fiscal year ending December 2008, an increase
of 15.2% compared to fiscal 2007. Its net income was $3,557 million in fiscal 2008, compared to a net
income of $3,697 million in the preceding year.
More recent financial information was not available for this company at the time of publication.
Table 16: RWE AG: key financials ($)
$ million 2004 2005 2006 2007 2008
Revenues 58,592.0 54,907.1 59,171.8 59,106.5 68,065.5
Net income (loss) 2,971.5 3,102.2 5,349.3 3,697.4 3,556.9
Total assets 129,832.0 146,640.5 129,950.2 115,996.4 129,915.5
Total liabilities 116,405.3 132,105.5 110,328.7 95,612.9 111,644.1
Employees 97,777 85,928 61,725 63,439 65,908
Source: company filings D A T A M O N I T O R
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LEADING COMPANIES
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Table 17: RWE AG: key financials ()
million 2004 2005 2006 2007 2008
Revenues 42,137.0 39,487.0 42,554.0 42,507.0 48,950.0Net income (loss) 2,137.0 2,231.0 3,847.0 2,659.0 2,558.0
Total assets 93,370.0 105,458.0 93,455.0 83,420.0 93,430.0
Total liabilities 83,714.0 95,005.0 79,344.0 68,761.0 80,290.0
Source: company filings D A T A M O N I T O R
Table 18: RWE AG: key financial ratios
Ratio 2004 2005 2006 2007 2008
Profit margin 5.1% 5.6% 9.0% 6.3% 5.2%Revenue growth (4.0%) (6.3%) 7.8% (0.1%) 15.2%
Asset growth (5.8%) 12.9% (11.4%) (10.7%) 12.0%
Liabilities growth (9.1%) 13.5% (16.5%) (13.3%) 16.8%
Debt/asset ratio 89.7% 90.1% 84.9% 82.4% 85.9%
Return on assets 2.2% 2.2% 3.9% 3.0% 2.9%
Revenue per employee $599241 $638990 $958636 $931705 $1032735
Profit per employee $30391 $36103 $86663 $58282 $53968
Source: company filings D A T A M O N I T O R
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Figure 10: RWE AG: revenues & profitability
Source: company filings D A T A M O N I T O R
Figure 11: RWE AG: assets & liabilities
Source: company filings D A T A M O N I T O R
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MARKET FORECASTS
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Market volume forecast
In 2014, the global renewable energy market is forecast to have a volume of 3,842.5 billion kilowatt hours
(kWh), an increase of 25.3% since 2009.
The compound annual growth rate of the market in the period 200914 is predicted to be 4.6%.
Table 20: Global renewable energy market volume forecast: billion kilowatt hours (kWh), 2009
14
Year billion kilowatt hours (kWh) % Growth
2009 3,067.8 4.3%
2010 3,234.0 5.4%
2011 3,394.6 5.0%
2012 3,558.5 4.8%
2013 3,707.2 4.2%2014 3,842.5 3.7%
CAGR: 200914 4.6%
Source: Datamonitor D A T A M O N I T O R
Figure 13: Global renewable energy market volume forecast: billion kilowatt hours (kWh), 200914
Source: Datamonitor D A T A M O N I T O R
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APPENDIX
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APPENDIX
Methodology
Datamonitor Industry Profiles draw on extensive primary and secondary research, all aggregated,analyzed, cross-checked and presented in a consistent and accessible style.
Review of in-house databases Created using 250,000+ industry interviews and consumer surveys
and supported by analysis from industry experts using highly complex modeling & forecasting tools,
Datamonitors in-house databases provide the foundation for all related industry profiles
Preparatory research We also maintain extensive in-house databases of news, analyst
commentary, company profiles and macroeconomic & demographic information, which enable our
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Definitions Market definitions are standardized to allow comparison from country to country. The
parameters of each definition are carefully reviewed at the start of the research process to ensure they
match the requirements of both the market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest
industry events and trends
Datamonitor aggregates and analyzes a number of secondary information sources, including:
- National/Governmental statistics
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Modeling & forecasting tools Datamonitor has developed powerful tools that allow quantitative
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market models and forecasts, which can then be refined according to specific competitive, regulatory
and demand-related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and
up-to-date
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APPENDIX
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Disclaimer
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