RWE to Build Its First US Gas Plants as AI Lifts Power Needs

RWE AG will invest around half of its €35 billion ($40.4 billion) spending plan in the US, where it sees “dynamic development” in electricity demand and will build new gas-fired plants after focusing exclusively on renewables.

The German energy company’s shares gained after it said will spend €17 billion in the US until 2031, with a focus on 15 gas generation projects in places such as Arizona, Texas and parts of the Midwest. It will also further expand its portfolio of wind and solar power, as well as battery storage facilities, according to its annual results.