Renewable Energy Policy SupportRWE is positioned as a key beneficiary to US's and Europe's ongoing policy support for renewable energy, which is key to offsetting RWE's phase out of its last nuclear plant and the progressive phase-out of its coal fleet.
Renewable Energy ProductionRWE's production profile in H1-24 seems more appealing: 45% of total production came from Renewables vs 32% in H1-23, and coal revenues were 16% of total revenues vs 21% in H1-23.
Valuation And Market PerceptionRWE is currently trading at attractive valuations at a forward EV/EBITDA ratio of 4.6x, -1SD of its historical average EV/EBITDA ratios.