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Exclusive: RWE CFO maps out planned expansion in renewables, U.S. in focus

Published 04/17/2019, 07:55 AM
Updated 04/17/2019, 08:00 AM
© Reuters. RWE CFO Markus Krebber attends the annual shareholders meeting of German power supplier RWE in Essen

© Reuters. RWE CFO Markus Krebber attends the annual shareholders meeting of German power supplier RWE in Essen

By Tom Käckenhoff, David French and Vera Eckert

ESSEN, Germany, NEW YORK, FRANKFURT (Reuters) - German utility RWE expects to spend heavily in the U.S. renewable energy market as it maps out its future as a global renewable champion after its pending asset swap deal with peer E.ON.

"We expect to spend several billions of euros on the expansion of the U.S. renewables business in the next few years," chief financial officer Markus Krebber told Reuters in an interview.

© Reuters. RWE CFO Markus Krebber attends the annual shareholders meeting of German power supplier RWE in Essen

RWE is trying to shed its image as coal-heavy, closing many of its German plants in return for compensation that is yet to be negotiated, and has demonstrated the bulk of its future profits will come from renewables.

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