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Reuters: Activist fund ENKRAFT has taken a stake in RWE (RWEG.DE) and is calling for a separation of the company’s brown coal activities to remove the burden of a legacy business that has weighed on the value of shares in Germany’s largest power producer. ENKRAFT, which has a track record in investing in the renewable […]
Arjun Flora and Guest Contributor: Sarah Brown
New research undermines compensation claims for coal phaseout
Coal assets held by RWE and Uniper in the Netherlands are already economically unviable and have largely been written-down, according to a new analysis by IEEFA and Ember (an independent energy and climate think tank), in collaboration with Dutch knowledge centre SOMO. Market forces, not Dutch legislation, are causing the demise of these coal-fired power […]
IEEFA
ReNews.biz: Wartsila has won a contract to supply a 40MW / 80 megawatt-hour DC-coupled storage system for the Hickory Park solar project in Georgia, US, being developed by RWE Renewables. Delivery of the Wartsila storage system is scheduled for September 2021, and the plant is expected to commence commercial operations in November. Wartsila’s GEMS digital […]
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OffshoreWind.biz: RWE has taken the financial investment decision on the 1.4 GW Sofia offshore wind farm project in the UK. The 100 per cent RWE-owned project represents a total investment of approximately GBP 3 billion (EUR 3.48 billion). The company is now poised to forge ahead with the construction of Sofia, with onshore enabling works […]
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Bloomberg: Axa SA, France’s biggest insurer, is dropping German energy giant RWE AG as a client in a decision that highlights how taboo the coal business has become. Not even an appeal from RWE Chief Executive Officer Rolf Martin Schmitz to his counterpart at Axa, Thomas Buberl, was enough to persuade the insurer to retreat […]
IEEFA
Reuters: RWE, BP and Total were among winners in Britain’s first major auction of offshore wind farm leases in more than a decade, British authorities said on Monday. Countries across the globe are racing to build up green power in order to slow global warming in line with the Paris climate accord. Britain plans to […]
IEEFA
Greentech Media: Green hydrogen is set to play a substantive role in the overall energy mix with its development likely to happen faster than anyone predicts, according to a new report by Wood Mackenzie. The 2050: The Hydrogen Possibility report details how the project pipeline has grown nine-fold since October 2019 to a staggering 26 […]
IEEFA
Reuters: German utility RWE and Norwegian oil and gas firm Equinor have joined an initial phase of a Dutch project to produce “green” hydrogen by using offshore wind power. The NorthH2 project, launched in February by Dutch Gasunie, Groningen Seaports and Shell, will use electricity to produce hydrogen from water avoiding carbon dioxide (CO2) emissions […]
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S&P Global Market Intelligence ($): RWE AG was the major winner in Germany’s first tender for shutting down hard coal-fired power plants, taking two-thirds of the compensation handed out by the government, as strong competition elsewhere drove average prices down to well below the maximum available. RWE and Vattenfall AB both secured contracts for closing […]
IEEFA
Energy Storage News: Work has begun on a 195.5MW solar farm in Georgia, US, co-located with 40MW/80MWh of battery storage for RWE Renewables, subsidiary of Germany-headquartered multinational energy company RWE Group. RWE Renewables and utility company Georgia Power signed a 30-year power purchase agreement (PPA) deal for the utility to off-take energy generated by the […]
IEEFA Germany: Halving RWE’s lignite output could spur low-carbon shift, avoid $100 million expense of saving aging plants
Move would cut CO2 emissions in line with government energy policyOct 23, 2018, LONDON (IEEFA) – In a report released today, the Institute for Energy Economics and Financial Analysis finds that German utility RWE would benefit in the medium to long term by moving now to sharply reduce its lignite mining activities and begin closing its oldest lignite-fuelled generation stations. The report, “Lignite Retreat: RWE’s […]