RWE to Invest $19 Billion in U.S. Gas Power as Demand Jumps

Germany-based utility giant RWE is expanding its U.S. portfolio beyond renewables, focusing a large part of planned $19 billion investments in the United States by 2031 on gas-fired power generation. RWE – which ditched U.S. offshore wind last year after the Trump Administration signaled renewables would not be a priority and wouldn’t be supported going forward – is now betting big on flexible gas peaking capacity in the United States, where electricity demand is soaring and gas is cheap and abundant. “In…