RWE boosts spending on wind, solar as gas crisis deepens

After a pre-release of EBITDA results confirming guidance, the German utility informs of plans to invest billions of euros this year on expanding renewables.

Photo: Wolfgang Rattay/Reuters/Ritzau Scanpix

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 EUR 5bn 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.

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