RWE commits to further clean energy investment in the U.S. market on Global Wind Day

• RWE to continue its expansion of wind power in the U.S.
• Top-five company in U.S. wind market with more than 5 GW of installed capacity
• Sustainability key to RWE's growth ambitions in the U.S.

AUSTIN, Texas, June 15, 2023 /PRNewswire/ -- RWE is committed to increasing its wind capacity in the United States as part of the company's ambitious growth strategy to install more than 50 GW of renewable capacity globally by 2030. The U.S. accounts for more than one half of RWE Group's renewable capacity. Wind is the number one source of renewable energy in the U.S., accounting for 64% of all operating clean power[1], a trend that is set to continue bolstered by provisions in the Inflation Reduction Act. The U.S. is a key market for growing RWE's wind business building on a substantial global portfolio including more than 200 onshore and 19 offshore wind farms.

"Wind energy is a tremendous success story in the U.S. and one of our core technologies to achieve net-zero," said Mark Noyes, CEO of RWE Clean Energy, a U.S. subsidiary of RWE. "Global Wind Day reminds us that story is set to continue as we expand RWE's wind development from coast to coast and into the sea."

RWE takes lead position in U.S. renewables market
RWE's onshore wind experience in the U.S. spans 15 years and includes installing more than 5 GW of capacity. Texas leads the nation in installed wind capacity and RWE's projects there include the 240 MW Blackjack Creek and the 200 MW El Algodon Alto. There is more to come, with RWE's construction of the 200 MW Montgomery Ranch Wind Farm – also in Texas. The company has an ambitious project pipeline of over 24 GW, 25 percent of which is onshore wind, and €16 billion earmarked to support its growth in the U.S.

RWE is the number two in offshore wind globally and is gaining momentum in the U.S. In 2022, RWE became the fastest growing new entrant in U.S. offshore wind, acquiring 3.9 GW (RWE share) of seabed capacity. The company is going further offshore to unlock the potential of deep waters and strong winds with its first commercial scale floating wind project off the coast of northern California. 

Sustainability as an integrated part of RWE's growth ambitions
RWE is working towards full circularity and net-zero emissions, supporting local communities and the protection of biodiversity. The company has set itself ambitious targets, in line with the 1.5-degree CO2 reduction plan. RWE aims to have 90% of wind components from 'circular materials' by 2030 with a target of full material circularity by 2050.

The company has also set a net-positive impact target by 2030 for biodiversity for all new assets. To achieve this, RWE is working with scientists and NGOs to create and advance the necessary knowledge to achieve net positive impacts. As part of its joint venture in the U.S., Community Offshore Wind, RWE has partnered with the Cornell Cooperative Extension of Suffolk County Marine Program to restore oyster habitats to the seabed bordering Long Island. In addition, RWE's deployment of solar parks around the U.S. enables the company to secure the land for biodiversity for several decades and can provide habitats for a variety of species during the operating lives of projects.

RWE
RWE is leading the way to a green energy world. With an extensive investment and growth strategy, the company will expand its powerful, green generation capacity to more than 50 gigawatts internationally by 2030. RWE is investing more than €50 billion gross for this purpose in this decade. The portfolio is based on offshore and onshore wind, solar, hydro plants, hydrogen, batteries, biomass, and gas. RWE Supply & Trading provides tailored energy solutions for large customers. RWE has locations in the attractive markets of Europe, North America, and the Asia-Pacific region. The company wants to phase out coal by 2030. RWE employs around 19,000 people worldwide and has a clear target: to get to net zero by 2040. On its way there, the company has set itself ambitious targets for all activities that cause greenhouse gas emissions. The Science Based Targets initiative has confirmed that these emission reduction targets are in line with the Paris Agreement. Very much in the spirit of the company's purpose: Our energy for a sustainable life.

Forward-looking statements
This press release contains forward-looking statements. These statements reflect the current views, expectations and assumptions of management, and are based on information currently available to management. Forward-looking statements do not guarantee the occurrence of future results and developments and are subject to known and unknown risks and uncertainties. Actual future results and developments may deviate materially from the expectations and assumptions expressed in this document due to various factors. These factors primarily include changes in the general economic and competitive environment. Furthermore, developments on financial markets and changes in currency exchange rates as well as changes in national and international laws, in particular in respect of fiscal regulation, and other factors influence the company's future results and developments. Neither the company nor any of its affiliates undertakes to update the statements contained in this press release. 

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[1] American Clean Power 2022

SOURCE RWE Clean Energy

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