EnBW not to continue UK offshore wind projects Mona and Morgan – impairment of € 1.2 bn in annual financial statements 2025

EnBW Energie Baden-Württemberg AG (EnBW) decided today to not continue the two UK offshore wind projects Mona and Morgan with a potential total capacity of three gigawatts.

The primary reason for this decision is the fact that no government support through so-called ‘Contracts for Difference’ was obtained in the currently concluded allocation round for both projects.

Other factors beyond EnBW's control (including a significant increase in costs across the supply chain, lower electricity market prices and higher interest rates) and ongoing project implementation risks imply that the projects are no longer economically viable as per EnBW's standards and criteria.

The withdrawal from the projects Mona und Morgan by EnBW results in an impairment of € 1.2 billion in the annual report 2025. The extraordinary charges reduce the non-operating result and do not affect cashflows.

EnBW's forecast range for adjusted EBITDA of €4.8 to €5.3 billion for the financial year 2025 therefore remains unchanged.

EnBW will publish its annual financial statements 2025 on 25 March 2026.