- Published: 11 May 2023 11 May 2023
RWE has expanded its green portfolio by 4.9GW with investments of €8.0 billion in the first quarter of 2023. The €6.3 billion acquisition of Con Edison Clean Energy Businesses in the USA represented the largest share of the investments.
In addition, RWE acquired a hydrogen-ready gas-fired power station in the Netherlands and took over British solar developer JBM Solar. In the first months of the year, RWE also invested in new wind and solar facilities, and commissioned further plants. Compared to the first quarter of 2022, RWE’s green portfolio grew by an impressive 7 GW.
Additional facilities with a capacity of 6.8 GW are currently under construction. The largest individual projects are offshore wind farms Sofia off the UK coast, at 1.4 GW, and Thor in Denmark, at 1 GW. Onshore, too, RWE is pressing ahead on the expansion of wind power with more than 17 projects totalling 0.6 GW in Europe and the US. Solar energy currently represents the largest share of new-build projects, at 2.7 GW, mainly in the US. In addition, RWE is expanding its global battery storage portfolio, with projects totalling 0.9 GW under construction in Germany, the US and the Netherlands.