RWE Pledges To Expand Wind Power Capacity, Eyes Solar Energy

German utility RWE AG (RWE.XE) Monday reiterated plans to continuously expand its power generation capacity from renewable energies, adding that it will massively invest in offshore and onshore wind energy.

Peter Terium, who will replace Chief Executive Juergen Grossmann at the helm of Germany’s second-largest utility by market value in July, also said that RWE is preparing to expand into photovoltaic solar power in sun-rich regions of southern Europe and North Africa.

RWE, which is heavily reliant on coal and lignite-fired power plants and one of the largest emitters of carbon dioxide in Europe, has pledged to improve its CO2 footprint by gradually expanding renewable energy production.

By 2025, RWE plans to increase its power generation capacity from offshore wind farms to over 6,500 megawatts. In the same period, its onshore wind power generation capacity is expected to triple to around 5,000 MW, Terium said.

At the end of 2011, RWE’s renewables output capacity amounted to around 3,700 MW, with offshore wind farms contributing around 4% and onshore wind some 44%, according to information published on the company’s website.

Terium also said that RWE plans to invest in solar power, following a massive decline in prices for solar energy equipment, making the technology much more competitive.