RWE targets 3GW of renewable energy annually
14 March, 2019
Germany’s RWE Renewables has announced that it will add up to 3GW of new green power capacity per year.
The company will spend approximately €1.5bn (£1.3bn) per year to meet its growth strategy, targeting the Americas, Asia Pacific and Europe, with a focus on adding offshore wind, solar and storage assets to its current 9GW renewables portfolio.
In other company news, the German regulatory authorities have approved E.ON’s acquisition of RWE’s 76.8% stake in innogy, in return RWE will receive a large number of E.ON’s renewable assets.
Following the transaction, which is expected to be completed in the second half of 2019, RWE Renewables will become the second largest offshore wind owner and operator behind Ørsted.