Overview

• The Berliner Energie und Wärme GmbH (BEW) plans to invest €3.3 billion by 2030 to transition Berlin's district heating network to renewable energy sources.
• One-third of the investment has already been secured through bridge financing from multiple banks, with favorable loan terms supported by a high equity ratio.
• The Reuter West heating plant is being converted from coal to renewable heating technologies, including a wastewater heat pump and a waste heat-powered steam turbine.
• BEW's first-year revenue fell to €1.9 billion, €190 million less than Vattenfall's 2023 performance, due to lower demand and heat prices amid higher temperatures.
• The Berlin Senate emphasizes public ownership as essential for ensuring climate neutrality by 2045 and plans to update decarbonization strategies inherited from Vattenfall within the year.