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The chief financial officer of German utility RWE on Thursday acknowledged the importance of weather to its renewables segment, as the company reported “much lower” wind volumes in Northern and Central Europe for the first half of 2021.

In an interview with CNBC, Michael Müller stressed the need to have a broad range of assets in place to cope with potential fluctuations related to weather conditions.

“I think what you need to do is balance your portfolio,” he said. “So, have a portfolio across different technologies … be it onshore, offshore, or solar or storages, and also across regions.”

“And what we have seen in the first half is there was poorer wind in Europe but at the same time there was stronger wind in the U.S.”

“So our idea is to have a balanced portfolio. But clearly, if you’re a renewables player, you are dependent to some degree on weather conditions.”

For offshore wind, the Essen-headquartered firm’s adjusted earnings before interest, taxes, depreciation, and amortization came in at 459 million euros ($538.5 million) in January to June 2021. This compares to 585 million euros for the same timeframe last year.

Its onshore-solar segment also took a knock, reporting a loss in adjusted EBITDA of 42 million euros.

Referencing this part of its business, RWE said: “The extreme cold snap in Texas led to an earnings shortfall of around €400 million.”

“Additional burdens resulted from below-average wind conditions at onshore wind farm locations in Northern and Central Europe,” it added.

Adjusted EBITDA for the whole group in January to June 2021 came in at 1.75 billion euros, down from 1.83 billion euros in the same period a year earlier. Adjusted net income grew, however, hitting 870 million euros.

Even with the above challenges, RWE described the first half of 2021 as being “very good” financially. “For fiscal 2021, RWE now expects to achieve adjusted EBITDA of between €3.0 billion and €3.4 billion at Group level, which is €350 million higher than forecast in March 2021,” it said. 

Orsted maintains guidance despite low wind speeds

Thursday also saw Danish energy firm Orsted state it would maintain its full-year guidance for 2021 even though it flagged that lower wind speeds had affected output in the first six months of the year.

In a statement, Orsted said operating profit for the first half of 2021 came in at 13.1 billion Danish krone (around $2.1 billion), a 3.3 billion krone jump compared to the same period in 2020.

Nevertheless, the firm experienced challenges related to wind speeds. “Earnings from our offshore and onshore wind farms in operation were DKK 0.3 billion lower compared to the same period last year,” the company said.

“The increased generation capacity from new wind farms in operation was more than offset by significantly lower wind speeds across our portfolio,” it added.

Breaking things down, Orsted’s investor presentation said wind speeds in the second quarter of 2021 came in at 7.8 meters per second, which was “significantly lower than normal wind speeds” of 8.6 meters per second.

Looking ahead, the company said it maintained its full-year EBITDA guidance of 15-16 billion Danish krone but added that it was expecting an “outcome in the low end of the guided range.”

This was due to the lower wind speeds as well as “warranty provision towards our partners related to cable protection system issues at some of our wind farms.”

Orsted is a major player in wind energy. In offshore wind alone, its installed capacity amounted to 7.6 gigawatts at the end of 2020.

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Podcast: new Tesla Model S/X, robotaxi service is coming, new EV price war, and more

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Podcast: new Tesla Model S/X, robotaxi service is coming, new EV price war, and more

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the new Tesla Model S/X “refresh”, robotaxi service is coming, a new EV price war in China, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

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We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:

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Kia hits a milestone as the EV5 launches in Singapore

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Kia hits a milestone as the EV5 launches in Singapore

Kia’s electric SUV has already become a hit in several overseas markets. The EV5 is now arriving as the first electric Kia to be assembled in Singapore, as it rolls out to new global markets.

Kia EV5 arrives as its first locally made EV in Singapore

Shortly after its introduction at the 2023 Chengdu Motor Show, Kia launched the EV5 in China, with prices starting at about 20,000 (149,800 yuan).

Kia is now seeing a full-on recovery in China, largely thanks to the new electric SUV. Its joint venture partner in China, Yueda Kia, ranked first in sales growth among JV brands.

In China, Kia sold over 248,000 vehicles last year, the first time it has crossed the 200,000 mark since 2020. The EV5 is made at Yueda Kia’s manufacturing plant in China and exported to overseas markets like Australia and Thailand.

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In fact, the EV5 is currently the fourth best-selling EV in Australia this year through April, ahead of every BYD vehicle.

The EV5 is slightly smaller than the Tesla Model Y at 4,615 mm in length, 1,875 mm in width, and 1,715 mm in height.

Kia-EV5-singapore
Kia EV5 (Source: Kia Singapore)

After launching the EV5 in Singapore on May 28, Kia hit a milestone. The electric SUV arrives as Kia’s first locally assembled EV in the region.

The EV5 was officially launched during an event at Hyundai Motor Innovation Groupe Centre Singapore, where it will be made. It will join other Hyundai Motor electric cars, including the IONIQ 5 and IONIQ 6. Hyundai also builds the IONIQ 5 robotaxi here and exports it to the US.

Kia-EV5-Singapore
Kia EV5 (Source: Kia)

Kia’s distributor, Cycle and Carriage, will sell the EV5 in three variants: Air, Earth, and a sporty GT-line. Two battery sizes will be available, 64.2 kWh and 88.1 kWh, providing range of 400 km and 540 km, respectively.

Prices for the base Air trim start at $194,000 (SDG), including COE. The Earth and GT-Line models start at $210,500 (SDG) and $260,000 (SDG) with COE.

Kia-EV5-interior
Kia EV5 interior (Source: Kia)

Later this year, Kia will launch the global version of the EV5, which will be made at its Autoland Gwangju manufacturing plant in South Korea. It will be sold in overseas markets, including Europe and Canada, but not the US.

Kia confirmed the EV5 will be “exclusively for the Canadian market” in North America. It will be available in FWD and AWD powertrains. Two battery sizes will be offered: 60.3 kWh or 81.4 kWh, providing a range of up to 500 km (310 miles).

Source: Cycle & Carriage Kia Pte Ltd, The Straits Times

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Ford Performance unveils Super Mustang Mach-E that will compete at Pikes Peak 2025

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Ford Performance unveils Super Mustang Mach-E that will compete at Pikes Peak 2025

Do we smell a three-peat? The team at Ford Performance is once again competing at the annual Pikes Peak International Hill Climb, and this year is bringing a “Super” version of the all-electric Mustang Mach-E… At least we think there’s a Mach-E in there somewhere.

Pikes Peak—the “Race to the Clouds.” This annual event spanning 12.42 miles to an elevation of over 14,000 feet in the mountains above Colorado has been celebrated for over 100 years. While its hill climb is rooted in tradition and traditional vehicles, it has become an annual opportunity for EV engineers to showcase how much better all-electric models can be.

Last year, Rivian, Hyundai, and Ford Performance all impressed, with the former two automakers snagging records for their vehicle types, while Ford’s “F-150 Supertruck” took the “King of the Mountain” crown for the fastest climb of the day.

This past January, we learned that Ford Performance planned to defend its title at Pikes Peak with its third all-electric demonstrator in as many years. At the time, we only saw a sheeted vehicle that appeared to be relatively low with a massive spoiler, but the glowing front emblem left no doubt that it was a modified version of the Mustang Mach-E.

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Today, Ford Performance unveiled the BEV it will use to climb Pikes Peak, which it is calling the Super Mustang Mach-E. Have a gander.

  • Mach-E Pikes Peak
  • Mach-E Pikes Peak
  • Mach-E Pikes Peak

Super Mach-E will try to hold Ford’s Pikes Peak crown

Ford Performance shared the images seen above in an Instagram post with the following caption:

12 miles of mountain road. 156 turns. 14,115 feet of elevation. This is the @pikespeakhillclimb, and we’re bringing 6,125 lbs of downforce — and @romaindumas_official — to take it on with the Super Mustang Mach-E.

From the post, we’ve learned the Super Mustang Mach-E will be driven up Pikes Peak by none other than veteran French racer Romain Dumas. Dumas has a wealth of experience in some of the world’s largest (and longest) races, including the 24 Hours of Le Mans, Nürburgring 24 Hours, and the 24 Hours of Daytona.

He has been contracted to Ford Performance since 2022 and has won two of his five Hill Climb victories with the American automaker in the past two years (although the 2023 SuperVan victory was in the division and second overall). Could Dumas tally his sixth career victory at Pike Peak with a three-peat with Ford in the Super Mustang Mach-E?

Ford Performance and Romain Dumas have shown they can do it, so it’s a serious possibility. We will find out on June 22, 2025, when the 103rd running of the Pikes Peak International Hill Climb takes place.

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