Powering towards a green tomorrow.

Offshore Wind

At the end of 2023, our offshore wind portfolio had a total installed capacity of approximately 3.3 GW (pro rata). Another 2.5 GW was under construction. We have set our sights on upping our offshore wind capacity to 6 GW by the end of 2027 and then to 10 GW by the end of 2030. Geographically, these efforts will focus on North-West Europe and the USA. Certain countries in the Pacific could also prove relevant, such as Japan.

Onshore Wind

Land-based turbines are currently our most important renewable energy source. In late 2023, these assets contributed 8.7 GW (pro rata) to our generation capacity. We are in the process of building wind turbines totalling 1.2 GW, and plan to expand our onshore wind portfolio to 12 GW by 2027 and again to 14 GW by 2030. The new assets are expected to be largely sited in North America and Europe. We are also planning a number of projects in Australia.

Solar

In our solar segment, we took a big step forward in 2023 with our acquisition of Con Edison Clean Energy Businesses. At the end of the year, we operated 4.2 GW of photovoltaic assets (pro rata), 3.3 GW of which stemmed from the aforementioned takeover. A further 3.1 GW were under construction. Our growth target for solar power is ambitious: by 2027, we want to increase our portfolio to 12 GW and to 16 GW by 2030. We are looking to deliver these projects in North America, Europe and Australia.

Flexible Generation

The planned exit from coal-fired power stations cannot be covered by new renewable assets and battery storage solutions alone. Instead, we need flexible, climate-friendly generation capacities that can bridge fluctuations in solar and wind energy feed-ins. Gasfired power plants play a key role in this regard. At the end of 2023, our generation portfolio included 15.7 GW (pro rata) of gas-fired capacity. We see a particular need for investments in Germany, where we expect to have built hydrogen-capable gas-fired power stations with a total capacity of 3 GW by the end of the decade. The plants will largely be constructed on sites which have until now been utilised for coal-fired generation.

Alongside the capacity additions, there will also be slight capacity decomissions. For a better overview, this is not illustrated in more detail for the year 2027 in the bar chart.

Batteries

The increased dependence on more volatile energy sources such as wind and solar calls for more battery storage systems. RWE has been looking into developing, constructing and operating large-scale batteries for many years now. Our operational battery storage capacity in late 2023 amounted to 0.7 GW (pro rata) with assets totalling 1.1 GW under construction. By 2027, we are expecting to up this figure to 4 GW and again to 6 GW by 2030. During 2023, we completed a key battery project in Fresno County, California, taking a 137 MW battery storage facility online – our biggest to date. It is connected to a 150 MW solar farm. This synergy allows us to optimise electricity feed-ins to the local grid, thereby improving the yield of the solar farm.