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UBS has lowered its price target for RWE from 49 to 45 euros while maintaining a "Buy" rating, citing a more conservative outlook on the company's renewable energy pipeline. In a strategic move, RWE has partnered with Peabody to develop solar and battery storage projects on reclaimed mining sites in Indiana and Illinois, targeting over 5.5 gigawatts of capacity. RWE will acquire a majority stake in R3 Renewables LLC, with Peabody retaining a 25 percent interest.
RWE is leading the agrivoltaic movement with a 3.2 MW demonstration farm in Germany, aiming to balance solar power and crop productivity. Meanwhile, Peabody is transitioning from coal to solar, launching a joint venture to develop over 3.3 GW of solar on former coal sites, with RWE acquiring a majority stake in the initiative. This shift highlights the growing demand for renewable energy solutions amid the decline of coal power.
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RWE partners with Peabody for US solar and battery storage projects
13:25 22.11.2024
coal producer pivots to solar power amid data center demand surge
02:30 22.11.2024
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