German utility company RWE is set to significantly boost its investments in energy transition technologies, pledging €55 billion worldwide between 2024 and 2030. This substantial commitment will be directed towards the development of wind, solar, batteries, and hydrogen projects, resulting in an additional 65GW of clean energy capacity by the end of the decade.
The initiative is part of RWE's “Growing Green” investment and growth program, launched two years ago, which has already seen a net investment of €20 billion since 2021. RWE's Chief Executive, Markus Krebber, expressed confidence in the company's ability to accelerate its transformation, citing financial strength, an attractive project pipeline, and extensive expertise.
With 100 projects currently under construction across 10 countries, totaling 7.8GW, RWE's investment and growth targets are supported by a diverse development pipeline exceeding 100GW capacity across various technologies and markets. The company aims to add more than 30GW of net capacity to its portfolio, allowing for strategic investment decisions based on risk-return profiles.
Renewables will account for 75% of the planned investment, alongside batteries, flexible generation, and hydrogen projects. Core markets, including Germany, the USA, and the United Kingdom, will remain the primary focus, with plans to grow in other European markets and selected countries in APAC, such as Australia, Japan, and South Korea.
Over half of the €55 billion earmarked for investment from 2024 to 2030 is allocated for Europe. In Germany, RWE plans to invest around €11 billion net, while in the UK, the company aims to invest approximately €8 billion net. The US is another key focus, with around €20 billion net allocated for future investments by the end of the decade.
In terms of technology, 40% of the planned investment will go towards expanding onshore wind and solar businesses, while 35% will be directed to offshore wind projects. RWE aims to increase its offshore wind capacity from 3.3GW to 10GW by 2030, with specific projects already secured to realize this expansion plan as intended.
