EnBW (Energie Baden-Württemberg AG)

EnBW (Energie Baden-Württemberg AG) is a publicly listed, majority state-owned integrated energy company headquartered in Karlsruhe, Germany. It is one of the country’s largest energy providers, operating along the entire energy value chain from electricity and heat generation and energy trading through to transmission and distribution grids and customer energy solutions. EnBW generates power from a diversified portfolio of hydro, wind (onshore and offshore), solar, gas, coal and formerly nuclear assets, and also produces district heating, operates gas storage and trades electricity, gas, CO₂ allowances and fuels. In 2024, renewable energies accounted for 58.7% of its installed generation capacity, with 6.6 GW of renewables in operation, and the company served around 6 million customers across 10 countries. Operationally, EnBW is structured into three main segments. Sustainable Generation Infrastructure covers renewable energies, conventional generation, district heating, gas storage and trading. System Critical Infrastructure comprises electricity and gas transmission and distribution grids, water supply and grid-related services, including major projects such as SuedLink and ULTRANET. Smart Infrastructure for Customers focuses on the sale of electricity, gas and heat, electric mobility, telecommunications and home solar storage solutions. EnBW has established a strong position in wind power, including German offshore projects Baltic 1, Baltic 2, Hohe See, Albatros and the 960 MW He Dreiht wind farm under construction, as well as international activities in the UK, France, Sweden and Turkey. Strategic priorities include investing up to €50 billion between 2024 and 2030—mainly in grids, renewables, hydrogen-ready gas plants and EV fast-charging—supported by extensive green bond financing and a net-zero target for scopes 1 and 2 by 2040 and scope 3 by 2050, alongside a planned coal exit by 2028 subject to regulatory conditions.