November 16, 2021 Read More →

RWE touts new plan to spend 50 billion euros on renewables by 2030

S&P Capital IQ ($):

Ramping up its renewables ambitions, German utility RWE AG is upping spending and capacity targets by 2030, it said during its Nov. 15 capital markets day.

With exits from coal and nuclear power generation moving into view, the business will spend €50 billion over the course of this decade to grow offshore and onshore wind, solar, batteries, flexible generation and hydrogen capacity, it announced.

The renewables fleet will thereby double to 50 GW by 2030 in key markets Europe, North America and Asia-Pacific. New capacity will be added more rapidly, from currently 1.5 GW per year to 2.5 GW per year through the 2020s.

The pivot will boost financial performance, RWE projected. EBITDA in the core business, which excludes coal and nuclear, will more than double to €5 billion per year by 2030.

[Camilla Naschert]

More: All chips on green: RWE to spend €50B on renewables pivot by 2030

Comments are closed.