RWE AG plans to spend about $19.6 billion to build 9 GW of capacity in the United States, including a new foray into U.S. gas peaking plants, the German energy giant announced Thursday as part of its 2025 earnings presentation.
“We want to expand our business even more than previously planned,” RWE CEO Markus Krebber said in a statement. “We will be investing almost half of our total investment volume [in the U.S.] over the next six years.”
The company has a total worldwide planned investment of €35 billion, or about $40 billion, through 2031.
Investment decisions in the U.S. had been “on hold” because of “debates on technologies and tariffs,” Krebber said. But since summer 2025, “clarity has returned,” in part due to the One Big Beautiful Bill Act, and “we have therefore resumed our investment activities in full.”
The OBBBA accelerated the phase-out of key tax credits for solar and wind projects and promoted oil and gas production. Battery storage projects will have tax credits available through 2033 but must still comply with new foreign entities of concern rules.
RWE’s installed capacity in the U.S. is expected to increase from 13 GW today consisting of renewables and batteries, to 22 GW by 2031, officials said. The additions will include onshore wind, solar and battery storage, but officials said gas-fired peaking plants are the focus.
“They perfectly complement our renewable energy portfolio, as they can supply electricity particularly quickly to meet short-term demand,” Krebber said. “A reliable supply is especially important for electricity-intensive customers such as data centres. These power plants are planned at sites where we already have grid access.”
The company expects to have its first new gas peaker units online by the end of the decade, Krebber said.
RWE operates onshore wind, solar and battery storage projects across the United States. Last year it added 2 GW of capacity with projects in Kentucky, Arizona, Illinois, New York, Texas, California and Louisiana.
