RWE U.S. Offshore reaches settlement agreement with U.S. Department of Interior on offshore wind leases

RWE U.S. Offshore secured these leases from the U.S. government with a long-term commitment to develop offshore wind capacity in American waters and invested more than $1 billion toward the leases and the development of these projects. These leases provided legal rights to develop offshore projects and represented years of planning, investment, and partnership with federal agencies.

After careful consideration, it was determined there is no path forward to permit these projects in the U.S. for the foreseeable future. The settlement resolves RWE U.S. Offshore's legal claims and provides $1.22 billion in settlement funds. The company determined that this resolution best serves the interests of its stakeholders and allows it to direct resources toward energy projects that can be advanced with certainty.

RWE Americas and its affiliates will continue to deploy capital across the U.S. to meet rapidly growing energy demand, including:

• LNG infrastructure: a financial investment of $900 million to acquire an indirect 16% stake in the Louisiana LNG Project. RWE proceeds will be used to fund the construction of the terminal.
  
  
  
  
• Natural gas turbine reservations: To support the expansion of its growing flexible power generation work in the U.S., RWE Americas has signed a $300 million turbine reservation agreement securing future generating capacity to meet growing U.S. electricity demand. The company is developing a pipeline of 15 natural gas peaking projects across target markets in the U.S.

These investments will help deliver affordable, reliable energy solutions while supporting American jobs, enhancing grid reliability, and strengthening energy security.

In addition, RWE Americas has announced plans to invest approximately €17 billion in the U.S. over the next six years to grow its generation capacity from approximately 13 GW across 27 states today to 22 GW by 2031. In 2025 alone, RWE Americas commissioned 2 GW of new power generation capacity in the United States.

RWE remains focused on growing its offshore activities globally. RWE is one of the world's leading offshore wind developers with 18 offshore wind farms currently in operation, four under construction, and additional projects in development – including 6.9 GW of capacity secured in the UK's most recent offshore wind auction.

Note for editors:

Prior to the settlement with the DOI, RWE acquired National Grid Ventures (~27%) minority ownership interest in the joint venture Community Offshore Wind. 

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RWE is leading the way to a modern energy world. With its investment and growth strategy, RWE is contributing significantly to the success of the energy transition and the decarbonisation of the energy system. Around 20,000 employees work for the company in over 20 countries worldwide. RWE is one of the leading companies in the field of renewable energy. RWE is investing billions of euros in expanding its generation portfolio, in particular in offshore and onshore wind, solar energy and batteries. It is perfectly complemented by its global energy trading business. Thanks to its integrated portfolio of renewables, battery storage and flexible generation, as well as its broad project pipeline of possible new builds, RWE is well positioned to address the growing global demand for electricity, particularly driven by further electrification and artificial intelligence. RWE is decarbonising its business in line with the 1.5-degree reduction pathway and will phase out coal by 2030. RWE will be net zero by 2040. Fully in line with the company's purpose - Our energy for a sustainable life.

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SOURCE RWE