RWE Innogy delivering huge investment in renewable power

RWE Innogy, the renewable energy arm of RWE AG (PINK:RWEOY), is becoming a renewable powerhouse with more than $40bn in capital projects and maintenance outages in the pipeline.

Industrial Info reports that the company has assets in Germany, the Netherlands, the U.K. and central and southeastern Europe.

Now the company has found its way into the U.S. with a new fuel pellet manufacturing plant in Waycross, Georgia, which will produce fuel pellets destined for the company's power plants in the Netherlands and other European assets.

The $170m plant went into operation less than a year ago and is one of the world's largest wood pellet plants, producing approximately 750,000 tons of pellets per year. The company was attracted to the wood-rich region and the easy access to shipping ports in Savannah and Brunswick that allows quick freights of pellets.

In Europe, the company has a plethora of renewable energy projects in the works. Most notably involvement in a €6bn ($7.8bn), 2400 MW pumped-storage hydropower plant in Serbia and two giant offshore wind farm projects in the U.K. and Germany that total more than $10bn in investment and will produce more than 2100 MW of power.

On average, €1.2bn ($1.7bn) in annual capital expenditure has been budgeted through 2013.

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