The German power company said today it will spend around €1.5bn every year to grow its existing 9GW portfolio. 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. 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.