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RWE Boosts Spending on Wind, Solar as Gas Crisis Deepens

  • Renewables expenditure will exceed 5 billion euros this year
  • RWE doesn’t plant to claim losses from Russian gas cuts
Updated on

RWE AG is investing more than it originally planned on building renewable energy capacity to make Europe more energy independent as a worsening crisis threatens the region’s economy. 

Germany’s biggest power producer plans to spend more than 5 billion euros ($5.2 billion), on green technologies this fiscal year, including wind, solar and batteries, as well as ramping up hydrogen, it said in a statement on Wednesday. That’s about 30% more than first planned.