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RWE to invest €50 billion in renewable energy by 2030

  • 17 days ago (2021-11-17)
  • David Flin
Europe 864 Renewables 688

RWE has announced that it will double its renewable energy generation capacity to 50 GW by 2030; it said that it would invest €50 billion to achieve this expansion. The company said that the rate of capacity increase will be 70 per cent higher each year than in 2020; an increase of 2.5 GW per year compared to 1.5 GW in 2020.

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The 50 GW will include expanded and new solar and wind farms, new battery capacity, and new green hydrogen generation across Europe, North America, and the Asia-Pacific region.

With regard to green hydrogen, RWE is planning to develop 2 GW of electrolyser capacity this decade within Europe. It also plans to triple offshore wind capacity from 2.4 GW to 8 GW, expand onshore wind capacity from 7 GW to 20 GW, increase its solar portfolio from 1 GW to 8 GW, and add 2.4 GW of battery capacity to the 0.6 GW currently in operation.

Markus Krebber, Chief Executive of RWE, said that the launch of the ‘Growing Green’ strategy is the successful completion of a “comprehensive strategic transformation.” He said: “RWE can deliver what the green energy world needs: electricity from wind and sun, for which demand is increasing, storage systems and flexible generation capacity to secure supply; expertise and drive to ramp up the hydrogen economy; integrated customer solutions to supply industry with green energy; and a massive reduction in CO2 emissions.”