RWE announces billions in green electricity



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DFor a long time, it has been focused on nuclear and coal power companies. The focused energy company RWE wants to expand its green electricity business with billions of investments, boasting the expanding markets in North America and Asia. "Renewable energies are becoming a globally important and growing business for us," said CFO Markus Krebber. "We expect to invest billions of euros in expanding business in the United States in the next few years."

By the second half of the next decade, at the latest, the utility wants to enter the Asian market for renewable energy sources. "The preparations are starting now."

With the planned acquisition of the green-energy business of the subsidiary Innogy and Eon by the end of the year, the environmental critics want to become one of the largest producers of green electricity. If the European Commission agrees to the entire exchange agreement with Eon, RWE would have ten-gigawatt green power plants at one time – roughly equivalent to the production of ten nuclear power plants.

And it should not be like this. "We ourselves want to invest about € 1.5 billion a year, along with partners, the combined sum of € 2.5 billion," Krebber announced.

"Want to invest in all technologies"

With the jump to more distant markets, such as the United States, utilities are also responding to declining state subsidies for green electricity in this country. For larger projects that require a lot of capital, partnerships are common. Thus, the utility of Karlsruhe EnBW also targets the US offshore market and is willing to cooperate. EdF de França and EDP de Portugal allied themselves with the oil company Shell. RWE also signed on Wednesday a new credit line of more than five billion euros to expand its operations.

"We want to invest in all technologies – offshore wind, offshore wind, solar energy and storage," Krebber said. The main market for investment in the next few years in offshore wind energy is Europe, for wind power off the coast of North America and Europe. "For photovoltaic energy, North America, Europe and also Australia are relevant."

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