RWE Clean Energy has established a strategic relationship with WhiteRock Renewables to accelerate the expansion of RWE’s onshore wind, solar and energy storage development pipeline in the US.
WhiteRock is expected to originate and develop 4GW to 5GW of onshore wind, solar and battery energy storage system (BESS) projects.
RWE will have the option to acquire such projects as they reach maturity and are ready for a final investment decision.
This strategic relationship with WhiteRock amplifies RWE’s development efforts in the US by providing a pathway for parallel growth of its renewables platform in this core market, the German outfit said.
RWE Clean Energy’s senior vice president of utility-scale development Hanson Wood said: “RWE is investing billions to expand our US portfolio, which will make up 30% of the company’s global green installed capacity by 2030.
“To support our world-class development team in executing towards RWE’s ambitious US growth strategy, we are enlisting WhiteRock – a top-tier developer with a proven track record of delivery and more than 70 years’ combined development experience – to help supercharge our growth trajectory over the next five years.”
RWE currently has 36GW of onshore wind, solar and BESS projects in its US pipeline.
By tapping into WhiteRock’s established development capability, experienced staff and industry networks, RWE said this will further supplement its project pipeline to achieve its ambitious US growth targets.
WhiteRock co-founders John Wycherley and Brett O’Connor said: “When seeking to expand WhiteRock, we evaluated various business models that would enable expansion of our development pipeline.
“The relationship with RWE presented the perfect opportunity to create a collaborative platform for growth whilst providing an avenue for the projects we develop to become operating assets realising the benefits to local communities and promoting the expansion of clean energy in the US.
“We look forward to complementing RWE’s existing development expertise and working collaboratively with a global leader in clean energy.”
As RWE continues to expand its US presence, it is leveraging its clean energy business to grow its renewables portfolio from more than 9GW net installed capacity today to more than 19GW net by 2030.