RWE intends to spend €1.5bn ($1.7bn) annually on renewables to increase its current 9 GW portfolio by as much as 3 GW of installed capacity per year though a new business division. The company said it would invest in wind farms and solar power plants over the next five years but did not give details. RWE and EON’s complicated transaction to form RWE Renewables may be subject to delays caused by a potential hard Brexit, but the deal is still expected to be completed in 2019.
RWE intends to spend €1.5bn ($1.7bn) annually on renewables to increase its current 9 GW portfolio by as much as 3 GW of installed capacity per year though a new business division. RWE Renewables will focus on growth in the Americas, Asia-Pacific and Europe, encompassing onshore and offshore wind projects, in addition to solar and storage technology. RWE and EON’s complicated transaction to form RWE Renewables may be subject to delays caused by a potential hard Brexit, but the deal is still expected to be completed in 2019.