Acquires 599 MW of solar and energy storage development projects in New York, Idaho and Oregon
RWE expands U.S. development portfolio with new project acquisitions across three states
AUSTIN, May 20, 2024 (GLOBE NEWSWIRE) — RWE Clean Energy continues to bolster its renewables development pipeline in the U.S., adding 599 megawatts (MW) of solar and energy storage projects acquired from Galehead Development, LLC (Galehead), an experienced greenfield development platform for wind, solar and storage projects. The move positions RWE to meaningfully expand into new Pacific Northwest markets and grow its existing footprint in New York.
The recently completed acquisitions include two development-stage renewables projects located within PacifiCorp’s operating territory in the Pacific Northwest and a mid-stage development asset in northeastern New York:
- Cedar Ridge: a 300 MWac solar project paired with a 150 MW (600 MWh) energy storage asset located in Blaine County, Idaho. The collocated solar and energy storage project will help meet growing demand and provide regional grid support consistent with PacifiCorp’s resource planning forecasts.
- Remington: a 199 MW, 4-hour (796 MWh) standalone BESS asset located in Marion County, Oregon. In addition to providing flexible clean power in response to regional demand fluctuations, the project will be designed to have a smaller overall footprint for minimal impact to existing land use.
- Champlain: a 100 MWac solar PV project located in Washington County, New York. The project’s favorable location will help meet growing demand in this section of the NYISO market and expands RWE’s footprint in the state, further demonstrating the company’s commitment to clean energy in the state of New York.
Hanson Wood, Head of Development, Utility-Scale Renewables for RWE Clean Energy: “RWE is excited to close on our first acquisitions with Galehead, in particular the Remington and Cedar Ridge projects which allow us to expand our presence in the Pacific Northwest market where there is robust demand for low-cost, clean power. Importantly, these projects will help provide future grid support, create good-paying jobs and fuel the local economies of Washington, Blain and Marion counties. We look forward to working with the local communities to communicate the benefits of these projects throughout the development process.“
John Clifford, Chief Revenue Officer for Galehead Development, LLC: “This transaction is a great validation of the hard work by our team to understand the long-term signals of durable markets, navigate a complex greenfield siting environment and interconnection tariff and collaborate with the world’s leading Energy Transition investors. We are thrilled to start and build on this partnership with RWE to advance this PacifiCorp project portfolio and future projects.”
RWE currently has 36 gigawatts (GW) of onshore wind, solar and battery energy storage systems (BESS) in its U.S. development pipeline. As RWE continues to expand its U.S. presence, it is leveraging its well-positioned clean energy business to grow its renewables portfolio from more than 9 GW net installed capacity today to more than 19 GW net by 2030.
Growing Green in the U.S.
As one of the world’s leading companies in the field of renewable energies, RWE is driving forward the expansion of its renewables activities. The U.S. plays a key role in RWE’s Growing Green strategy to significantly expand its global green technology capacity to more than 65 GW by 2030, and will comprise 30% of the company’s global green portfolio by the end of the decade.
For more information, visit americas.rwe.com.
For further inquiries:
Patricia Kakridas
Senior Manager, Media & PR
RWE Clean Energy
M +1 619-753-5206
E patricia.kakridas@rwe.com
RWE in the US
RWE is a top tier renewable energy company in the United States. With more than 15 years in the U.S. renewables business, the company has an outstanding track record in developing, constructing, and operating renewable energy facilities. The approximately 2,000-person RWE team in the U.S. is fully committed to forging ahead with the clean energy transition in North America. Together with our partners, we develop innovative solutions and drive technological progress for our customers to help re-shape the energy supply for future generations. RWE Clean Energy, a subsidiary of RWE AG, operates a renewable energy portfolio of about 9 gigawatts (GW) installed capacity of onshore wind, solar, and battery storage, making it the number four renewable energy company in the U.S. and the country’s second largest solar owner and operator, present in most U.S. states. RWE Offshore Wind Holdings, a subsidiary of RWE Offshore Wind, is also developing offshore wind on both the east and west coasts of the U.S., including the company’s first commercial scale floating wind project. As part of the RWE Group’s Growing Green strategy to expand globally its green portfolio to more than 65 GW of installed capacity and to invest EUR 55 billion worldwide from 2024 to 2030, the company has earmarked about EUR 20 billion to significantly increase its operating asset base in the U.S. This is backed by a project pipeline of 36 GW in onshore wind, solar and battery storage and 6 GW of offshore wind, which provides for one of the largest development platforms in the U.S.
Attachment
- RWE expands U.S. development portfolio with new project acquisitions across three states
CONTACT: Patricia Kakridas RWE 619-753-5206 patricia.kakridas@rwe.com
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