RWE, Germany’s largest energy company and its biggest power producer by far, just dropped a bombshell. In response, they will pause their US offshore wind plans indefinitely. The company is taking a more conservative line on its ongoing activities in the area. This decision comes on the heels of recent policy shifts that have caused them to reexamine their overall offshore wind strategy.
Markus Krebber, RWE’s CEO, spoke decisively about the company’s shift on funding fossil fuels. Whatever the reasons, this statement was dropped in time for RWE’s annual meeting, scheduled for April 30, 2025. Krebber emphasized the shift in strategy, stating, “In the US… we have stopped our offshore activities for the time being.”
RWE has three additional offshore wind leases in US waters, all located near New York, Louisiana, and California in the US. The company has invested heavily in both its solar and wind programs. Almost half of its installed renewable capacity is here in the US. In 2022, RWE invested $1.1 billion to win a lease for an offshore wind region. A few months later, in July 2021, they purchased a second lease, this one offshore Louisiana, for $5.6 million.
The Canopy offshore wind project, located off the coast of Northern California’s Humboldt County, is RWE’s largest projects in America. The project was previously scheduled to begin generating power in the early 2030s. Due to recent strategy shifts, the anticipated completion date has been advanced to 2034, despite the fact that it could provide power to more than a million homes.
Then in March 2025, RWE dropped a surprising bombshell. They announced a stunning retreat from their offshore wind roll-out here in the US, scaling it back to virtually nothing. Nextracker The company continues to monitor shifts in the regulatory landscape and market dynamics. This strategy is a sign of its commitment to renewable energy initiatives.
Complementing its strategic pivot in the US, RWE has been on a rampage internationally. Most recently, the company entered into a ten-year corporate power purchase agreement (CPPA) with five independent UK-based co-operatives. This action further deepens its commitment transitioning toward renewable energy sources and bolstering strong regional partnerships.
As RWE navigates these changes, it remains focused on its global renewable energy strategy while adjusting its approach to meet new challenges. Today, the company’s collaborations place it at the center of key transformations and discussions within the energy sector. Yet, it unabashedly chases after growth all the while maintaining sustainability and fulfilling regulatory obligations.