RWE to invest EUR 15bn in German renewables business

RWE AG (ETR:RWE) is planning to invest up to EUR 15 billion (USD 16.93bn) gross in its domestic core business by 2030 as the German energy major sees potential in the home market to accelerate the expansion of its renewables operations.

To take advantage of the growth potential in ground-mounted solar and onshore wind power, the company will open seven new offices in major cities across the country and hire 200 new employees who will be involved in the development of local solar and wind projects, RWE said on Monday.

The new offices that will open in Berlin, Duesseldorf, Mainz, in the Heilbronn/Stuttgart and the Augsburg/Munich metropolitan areas as well as in Leipzig and Rostock will expand RWE's regional presence.

The Essen-based energy company already operates on its home market over 580 MW of onshore wind farms and is working on more wind projects. Three photovoltaic-storage projects to be located on opencast mines in the Rhenish district are currently under construction with one of the parks expected to go online next summer. The other two will follow in 2023.

The announcement comes shortly after the new German government presented a plan to considerably speed up the installation of new green power capacities, setting a target of 200 GW solar and at least 30 GW of offshore wind by 2030.

Choose your newsletter by Renewables Now. Join for free!