- 10 billion euros for investment offensive in power generation
- RWE calls for a dependable political framework governing power plant investment
RWE's investment offensive for power generation is gaining shape. The company is planning to build a coal-fired twin unit delivering capacity of 1,600 megawatts at the existing site in Ensdorf, Saarland. The planned investment volume is approx. € 2 billion and the plant is due to come onstream in 2012. Another project is currently at the planning stage for the Emsland region. This involves a CCGT power plant (876 megawatts) with a natural gas pipe storage facility located at the existing site in Lingen. The plant is due to come onstream as early as 2009 and requires investments of approx. € 500 million. Construction work will involve a workforce numbering about 3,500 during the building phase. The investment projects still have to be approved by the relevant Supervisory Boards.
“These investments are intended to meet the environmental and climate policy challenges as well as fostering competition in energy markets,” comments Harry Roels, Chief Executive Officer of RWE AG. “Expanding supply by creating additional power plant capacities will also bring about the desired price reductions over the medium term.” Both projects will contribute to security of supply and modernisation of the German power plant portfolio. They will significantly expand generating capacities.
The new projects have raised power plant investments in the pipeline at RWE to well in excess of € 10 billion. The company is currently constructing the lignite-fired power plant units 2 and 3 in Grevenbroich with optimised plant engineering (BoA), and the topping gas turbines are nearing completion at Weisweiler. The company also intends to build a coal-fired twin unit at Hamm. Abroad, RWE is planning construction of a coal-fired power plant in the Netherlands and a lignite-fired power station in Hungary. RWE is further planning investments in renewable energies and RWE’s flagship project for its climate protection strategy – the CO2-free power plant.
“This unique investment programme by a German power company calls for a stable energy policy framework geared to the long term,” Harry Roels stressed. He explained that the current draft legislation on emissions trading and proposals to interfere in the functioning electricity market by means of changes to German antitrust law do not guarantee such stable framework conditions.
RWE is prepared to go to great lengths in its endeavours to ensure secure and efficient energy supplies, sustainable climate protection and fresh impetus for growth in the manufacturing and construction industries. These efforts are also going to strengthen Germany’s position as a business centre. “Our investment programme is firmly in place,” says RWE CEO Roels, “realisation now depends on how politicians actually set up the framework conditions.”