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RWE drops plan to build 1.1-GW lignite power station

Image by RWE AG (http://www.rwe.com).

April 26 (Renewables Now) - German energy group RWE AG (ETR:RWE) has abandoned its plan to build the 1,100-MW BOAplus lignite power station at the Niederaussem site in Bergheim, North Rhine-Westphalia.

The company stressed in a statement that it will no longer invest in the construction of new coal-fired power stations because it will focus on renewable power generation, as well as on energy storage and low-carbon technologies such as gas-fired plants.

“New coal-fired power stations no longer have a place in our future-oriented strategy. Following the completion of the transaction with E.on, RWE will be one of the world’s leading renewable energy players,” said CEO Rolf Martin Schmitz.

As previously announced, RWE will sell its majority interest in Innogy SE (ETR:IGY) to E.on SE (ETR:EOAN), while keeping Innogy’s renewables business and merging it with green assets acquired from E.on. The move will give RWE ownership of an 8.6-GW renewable energy portfolio that will be housed in a new company with three operating divisions.

Last month, RWE said that it will be installing 2 GW to 3 GW of renewables annually with a focus on onshore and offshore wind, solar power and energy storage.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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