RWE Clean Energy, the renewable energy arm of RWE AG, has significantly enhanced its U.S. renewables development pipeline with the acquisition of 599 megawatts (MW) of potential solar and energy storage systems from Galehead Development, LLC. The acquisition encompasses two major development-stage renewable projects within PacifiCorp’s operating territory in the Pacific Northwest—namely Cedar Ridge and Remington—as well as the Champlain solar project in northeastern New York. Cedar Ridge is a 300 MWac solar project bundled with a 150 MW (600 MWh) energy storage asset, while Remington is a 199 MW, 4-hour (796 MWh) standalone battery energy storage system (BESS), both contributing to regional demand and reliable grid support. The Champlain solar project, 100 MWac, bolsters RWE’s expansion in New York. RWE’s Head of Development, Hanson Wood, expressed excitement at fostering RWE’s Pacific Northwest presence with these initial acquisitions. John Clifford, the Chief Revenue Officer at Galehead Development, viewed the transaction as evidence of Galehead’s accomplishments in the energy market, anticipating a robust partnership with RWE. Aimed at a growth spurt, RWE looks to increase its U.S. renewable portfolio from over 9 GW net installed capacity to beyond 19 GW net by 2030. The company’s global ‘Growing Green’ strategy targets an expansion to above 65 GW by 2030, with the U.S. contributing 30% to the global green portfolio by the decade’s end. RWE stands robust in the U.S. renewables market, with a robust 2,000-person workforce, a 9 GW capacity portfolio, and projects spanning onshore wind, solar, battery storage, and offshore wind (including floating wind technology). The company’s ambition includes a massive EUR 55 billion global investment and EUR 20 billion specifically for the U.S. from 2024 to 2030.
Renewable Energy, Utility & Energy, Investment,United States, Pacific Northwest, New York
https://www.globenewswire.com/news-release/2024/05/20/2885010/0/en/RWE-expands-U-S-development-portfolio-with-new-project-acquisitions-across-three-states.html