RWE plans €50 billion investment in renewables by 2030
German energy titan RWE plans to invest €50 billion in renewable energy technologies by 2030 as part of a new strategy to deploy an additional 25 gigawatts of clean energy generating capacity.
The plan, announced Monday, would bring RWE’s total green generation to 50 GW by the end of the decade. The corporation will invest in onshore and offshore wind, solar, batteries, flexible generation, and hydrogen.
“We are in a great position to actively shape the key decade of the energy transition,” RWE CEO Markus Krebber said in a statement. “Leading the way to a green energy world, we are fully committed to driving forward the climate-neutral transformation of industry and society, very much in the spirit of our purpose: Our energy for a sustainable life.”
Highlights of the strategy:
Triple offshore wind capacity from 2.4 GW to 8 GW
Expand onshore wind and solar from 7 GW to 20 GW (solar from 1 GW to 8 GW)
Increase installed battery capacity from .6 GW to 3 GW
RWE said it also plans to add gas generation capacity of “at least 2 GW, which will have a clear decarbonization roadmap.” The company currently has 14 GW of installed flexible generation, including the second-largest gas-fired power station fleet in Europe.
For green hydrogen development, RWE aims to increase its electrolyser capacity to 2 GW.