(Bloomberg) —
German energy company RWE AG said it could double its planned investment projects in the US, if there was greater policy certainty.
RWE is one of the biggest renewable energy companies in the US since completing its acquisition of Con Edison in 2023. Two months ago, the firm said it would cut €10 billion ($11.4 billion) from its planned investment in green technologies by the end of the decade as projects face higher risks, particularly in the US. The company is currently building 5 gigawatts of capacity in the US.
“We could actually build twice of what we currently build,” due to growing power demand from AI, Chief Executive Officer Markus Krebber said at the Qatar Economic Forum on Wednesday. “But we cannot go faster because of supply chain and uncertainties around tariffs.”
The political climate for wind energy in the US has become increasingly fraught, with President Donald Trump ending new offshore lease sales on his first day back in office. However, earlier this week, his administration reversed an earlier decision to halt a major wind project led by Equinor ASA.
The US administration is right to prioritize energy and to use incentives to boost domestic supply chains, said Krebber, adding that Europe should do the same.
Krebber emphasized the importance of safety and security in future energy projects, citing the recent Iberian blackout and US warnings about certain Asian-made devices. US energy officials are reevaluating Chinese-made devices used in renewables after discovering unexplained communication equipment inside some units, Reuters reported.
“If every region has sorted out a security aspect, maybe we start talking even a bit more about global collaboration again,” the CEO said.
The government of the State of Qatar is the underwriter of the Qatar Economic Forum, Powered by Bloomberg.
(Updates with additional CEO comments in fifth paragraph. An earlier version of this story corrected a reference to Bloomberg in third paragraph.)
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