RWE and Peabody have entered into a strategic partnership to develop renewable energy projects across Indiana and Illinois by repurposing land previously used for mining. The collaboration will focus on the development of more than 5.5GW of solar energy and battery storage capacity, generating enough electricity to power over 850,000 homes in the region.
RWE will acquire a majority stake in R3 Renewables LLC, a joint venture founded by Peabody, Summit Partners Credit Advisors, and Riverstone Credit Partners. R3 is focused on repurposing land from former Peabody coal mines to deliver large-scale solar energy projects. The partnership also includes the continuation of development on ten potential projects in the area, with RWE acquiring seven of these and partnering with Peabody on three others.
RWE Clean Energy CEO Andrew Flanagan emphasized the significant economic potential of the projects, stating: “This partnership is an exciting opportunity for RWE to invest in rural regions of Indiana and Illinois and bring strong economic development.” Peabody's CEO, Jim Grech, added that the partnership with RWE “represents significant added momentum” in Peabody's efforts to develop renewable projects on its former mining lands.
This partnership highlights the growing trend of repurposing reclaimed land for renewable energy development, advancing the energy transition while fostering regional economic growth.
