RWE to spend $60bn on 30GW of new green projects by 2030 - Recharge
RWE to spend $60bn on 30GW of new green projects by 2030 | Recharge
RWE has earmarked €55bn ($60bn) for green technologies through the end of the decade – with a strong focus on solar, battery storage and offshore wind – the German energy giant said at its capital markets day.
The bulk of the investment is going into onshore and offshore wind, as well as solar, while the company is also planning to step up its energy storage and hydrogen businesses as part of its updated strategy.
Related Knowledge Center: ENERGY BASICS: renewables
Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.