German energy giant plans to invest 17 billion euros to enter the U.S. gas-fired power generation market

Golden Ten Data reported on March 12 that German energy giant RWE AG announced plans to invest in the construction of gas-fired power plants in the United States, whereas previously the company’s U.S. operations were almost entirely focused on renewable energy. According to its annual performance report, the German company plans to invest 17 billion euros (approximately $19.6 billion) in the U.S. by 2031, accounting for about half of its global investment plan of 35 billion euros. The company will focus on increasing flexible gas-fired power generation capacity, while further expanding its portfolio of wind, solar, and battery storage facilities. Previously, RWE’s U.S. business layout was mainly concentrated on onshore wind, solar, and battery storage projects, with a relatively low planned investment ratio. Last year, its offshore wind projects were shelved due to political resistance. Currently, RWE is undergoing a business transformation, gradually phasing out coal-fired power generation while expanding its clean energy portfolio. By 2025, renewable energy is expected to account for about 41% of the company’s total power generation.