RWE has promised to step up its efforts to replace the fossil fuel used in cola power generation by increasing its investment in renewable energy sources.
RWE stated that it is prepared to stop producing power using lignite in 2030.
The decision is a result of an agreement that was announced at a joint news conference in Berlin between the corporation and the Federal Ministry of Economics and Climate Protection and the Ministry of Economic Affairs, Industry, Climate Action, and Energy of the State of North Rhine-Westphalia.
At the same time, RWE declared its intention to “invest massively” in the energy transition. By 2030, it expects to invest more than €50 billion (€15 billion) internationally in the growth of its green core business.
RWE stated that it is seeking to further boost its expansion target of 1GW of renewables in North Rhine-Westphalia.
In order for the phase-out of coal to be feasible, according to RWE, the energy transition must be sufficiently far along by 2030 to ensure Germany’s security of supply. This calls for a “massive expansion” of wind and solar power facilities, storage facilities, and additional secured capacity in the form of gas-fired power plants that will eventually be able to run on hydrogen.
The German government intends to create a framework for the construction of these plants in order to facilitate the necessary investments.