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Released March 16, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--RWE AG (Essen, Germany) is one of many multinational energy companies rushing to address potential shortfalls in the natural gas supply, as a growing number of nations shut their doors to Russia's energy exports. In an annual earnings report, executives said the company is willing to set aside capital to manage soaring energy prices, should Russian gas imports face a longer-term blockade amid the war in Ukraine. Industrial Info is tracking more than US$47.5 billion worth of projects worldwide from RWE, including more than US$8.3 billion worth in the U.S.
Click on the image at right for a graph detailing RWE's active projects, by country.
RWE executives also expressed support for Germany's efforts to reduce its dependence on energy resources imported from Russia, as well as the European Union's plans to cut Russian gas imports by two-thirds by the end of the year. In an earnings-related presentation, Chief Executive Officer Markus Krebber said RWE is "working on identifying RWE power stations which can provide additional backup capacity" should the boycott persist in the long term.
In the near term, RWE executives said the company would comply with any request from Germany or the European Union to revive or extend coal-fired capacity--up to 3.5 gigawatts (GW) in total--and ensure high levels of its European natural gas storage by the beginning of the next winter season. Krebber stressed that "expanding renewables and ramping up the hydrogen economy" continue to be RWE's top priorities, despite German Chancellor Olaf Scholz's plan to increase storage for natural gas and coal during the Ukrainian conflict.
However, RWE executives cautioned against a "maximum" ban on Russian energy imports. "We must unfortunately also acknowledge that there is a strong dependence on Russia, especially in energy supply, in Europe and in particular in Germany," Krebber said. Germany already has halted its certification process for the Nord Stream 2 natural gas pipeline, which was set to import natural gas from Russia; for more information, see February 23, 2022, article - Germany Halts Authorization of Nord Stream 2 Natural Gas Pipeline.
Industrial Info is tracking about US$7.9 billion worth of active projects from RWE in Germany, including the construction of a US$364.5 million natural gas-fired power plant in Biblis, Germany, near a decommissioned nuclear power plant, for grid stability purposes. Units A and B at RWE's Kernkraftwerk Biblis Nuclear Power Plant have been shut down and are in the process of being dismantled. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed project reports on the gas plant and nuclear dismantlement.
Altogether, RWE is investing US$1.31 billion in a wide range of projects in Germany through 2030. This includes efforts to diversify Germany away from Russian resources, such as the development of green hydrogen in "Power-to-X" projects in Lingen and Rostock. Subscribers can read detailed reports on the Lingen and Rostock projects, and find more information in Industrial Info's December 28, 2021, article - RWE and Linde to Build 200-Megawatt Green Hydrogen Plant in Germany, and March 4, 2022, article - RWE Increases Capital Spending as Germany's Renewables Sector Picks Up.
Globally, RWE has 5.6 GW worth of renewable power-generation projects under construction, including about 800 megawatts (MW) in the U.S. tracked by Industrial Info. This includes the US$320 million Broken Spoke Solar Farm in Camilla, Georgia, which is set to generate about 195 MW from more than 650,000 photovoltaic (PV) panels, following its completion scheduled for this spring. It is accompanied by a 40-MW, US$70 million battery energy-storage system (BESS). Subscribers can read detailed project reports on the solar farm and BESS.
RWE also is wrapping up construction on the 200-MW, US$400 million El Algodon Alto Windfarm in Sinton, Texas, in the heart of the U.S. Gulf Coast, which is one of the top destinations for energy projects worldwide. The company expects to finish construction later this year on its US$203 million Baron Windfarm in Hornell, New York, which will generate more than 121 MW, and is preparing to begin construction on a US$184 million second phase, which would add more than 75 MW. The Hornell project will be accompanied by a US$10 million substation in Cohocton. Subscribers can read detailed project reports on the El Algodon Alto Windfarm, Baron Phase I, Baron Phase II and Baron substation.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: LinkedIn.
Click on the image at right for a graph detailing RWE's active projects, by country.RWE executives also expressed support for Germany's efforts to reduce its dependence on energy resources imported from Russia, as well as the European Union's plans to cut Russian gas imports by two-thirds by the end of the year. In an earnings-related presentation, Chief Executive Officer Markus Krebber said RWE is "working on identifying RWE power stations which can provide additional backup capacity" should the boycott persist in the long term.
In the near term, RWE executives said the company would comply with any request from Germany or the European Union to revive or extend coal-fired capacity--up to 3.5 gigawatts (GW) in total--and ensure high levels of its European natural gas storage by the beginning of the next winter season. Krebber stressed that "expanding renewables and ramping up the hydrogen economy" continue to be RWE's top priorities, despite German Chancellor Olaf Scholz's plan to increase storage for natural gas and coal during the Ukrainian conflict.
However, RWE executives cautioned against a "maximum" ban on Russian energy imports. "We must unfortunately also acknowledge that there is a strong dependence on Russia, especially in energy supply, in Europe and in particular in Germany," Krebber said. Germany already has halted its certification process for the Nord Stream 2 natural gas pipeline, which was set to import natural gas from Russia; for more information, see February 23, 2022, article - Germany Halts Authorization of Nord Stream 2 Natural Gas Pipeline.
Industrial Info is tracking about US$7.9 billion worth of active projects from RWE in Germany, including the construction of a US$364.5 million natural gas-fired power plant in Biblis, Germany, near a decommissioned nuclear power plant, for grid stability purposes. Units A and B at RWE's Kernkraftwerk Biblis Nuclear Power Plant have been shut down and are in the process of being dismantled. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed project reports on the gas plant and nuclear dismantlement.
Altogether, RWE is investing US$1.31 billion in a wide range of projects in Germany through 2030. This includes efforts to diversify Germany away from Russian resources, such as the development of green hydrogen in "Power-to-X" projects in Lingen and Rostock. Subscribers can read detailed reports on the Lingen and Rostock projects, and find more information in Industrial Info's December 28, 2021, article - RWE and Linde to Build 200-Megawatt Green Hydrogen Plant in Germany, and March 4, 2022, article - RWE Increases Capital Spending as Germany's Renewables Sector Picks Up.
Globally, RWE has 5.6 GW worth of renewable power-generation projects under construction, including about 800 megawatts (MW) in the U.S. tracked by Industrial Info. This includes the US$320 million Broken Spoke Solar Farm in Camilla, Georgia, which is set to generate about 195 MW from more than 650,000 photovoltaic (PV) panels, following its completion scheduled for this spring. It is accompanied by a 40-MW, US$70 million battery energy-storage system (BESS). Subscribers can read detailed project reports on the solar farm and BESS.
RWE also is wrapping up construction on the 200-MW, US$400 million El Algodon Alto Windfarm in Sinton, Texas, in the heart of the U.S. Gulf Coast, which is one of the top destinations for energy projects worldwide. The company expects to finish construction later this year on its US$203 million Baron Windfarm in Hornell, New York, which will generate more than 121 MW, and is preparing to begin construction on a US$184 million second phase, which would add more than 75 MW. The Hornell project will be accompanied by a US$10 million substation in Cohocton. Subscribers can read detailed project reports on the El Algodon Alto Windfarm, Baron Phase I, Baron Phase II and Baron substation.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: LinkedIn.
