Renewable Energy M&A: RWE Acquires ~600 MW Renewable Portfolio in the US as Part of its €20bn Expansion Plan

RWE Clean Energy boosts its US renewables pipeline by acquiring 599 MW of solar and energy storage projects from Galehead Development, expanding its footprint in the Pacific Northwest and New York.

🌞🔋 Portfolio Highlights

– Cedar Ridge: 300 MWac solar + 150 MW (600 MWh) BESS in Idaho

– Remington: 199 MW (796 MWh) BESS in Oregon

– Champlain: 100 MWac solar project in New York

💶 €20bn Investment in US Expansion

– Growing Green Strategy: Aims for 65 GW of renewable capacity by 2030.

– Investment Plan: Part of a €55bn program for 2024-30, with €20bn for the US.

– Global Diversification: Ensures a balanced development pipeline with optimal risk-return profiles.

🤝 Recent Major Moves in the US:

– $6.8bn Acquisition: Con Edison Clean Energy Businesses

– Partnership with WhiteRock Renewables for 4-5 GW of renewable projects

– Cooperation with Entergy for offshore wind project in the Gulf of Mexico

The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.

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