RWE Backs Wind Energy With €55 Billion Green Technology Plan
- German utility boosts spending target for energy transition
- Company earmarks 35% of funding for offshore wind investment
A RWE AG wind turbine near the Niederaussem power station in Bergheim Niederaussem, Germany.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
German utility RWE AG plans to expand its investment in wind energy even as the broader sector struggles with soaring interest rates and inflation.
The company expects to invest €55 billion ($60.4 billion) overall on green technologies by 2030, it said during its Capital Markets Day, held in London on Tuesday. About 35% of the amount will be devoted to offshore wind and 40% to onshore wind and solar.