RWE raises 2022 renewables spend by 30pc

German utility targets €5bn investment in renewables but confirms temporary restart of lignite power plants to support winter supply

German utility RWE has raised its planned spending on renewables in the current financial year by 30pc to more than €5bn ($5.1bn), the company says in its first-half earnings statement. Spending on the green portfolio in the first half of the year came to €2bn, with a total net capacity of 1.2GW commissioned across wind, solar and battery projects. “We are investing in green technologies that are urgently needed in the whole spectrum of renewables, and also in battery storage and projects to ramp up the hydrogen economy,” says Markus Krebber, CEO of RWE. The company currently has 4.8GW of projects under construction. RWE’s increased commitment to renewables comes as it reports a sharp increa