RWE Doubles Down On Offshore Wind And Old BEV Batteries For Storage (OTCMKTS:RWEOY)

Volker Hartmann/Getty Images NewsA year ago, I wrote about 120-year-old German power company RWE (OTCPK:RWEOY) that has embraced decarbonization and renewable energy in a big way. It is now the second biggest global offshore wind company with projects not only throughout Europe, but also in the US and Asia-Pacific. Here I cover RWE’s recent plans to expand its German offshore wind presence and also discuss RWE’s plans to repurpose used BEV batteries as the source of substantial energy storage to complement and help manage its renewable energy production. RWE’s website belies its stodgy fossil fuel past. It is worth a look by investors interested in “new energy” companies. RWE announces several new wind projects in 2022 One gets a sense of the momentum RWE is generating in its switch from being a fossil fuel giant to becoming a world leader in wind power, with 3 announcements…

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