RWE and Peabody are partnering on developing renewable energy projects by repurposing reclaimed land previously used for mining.
RWE is acquiring a majority interest in the R3 Renewables ownership group alongside founding partner Peabody. R3, a joint venture launched by Peabody, Summit Partners Credit Advisors and Riverstone Credit Partners, repurposes land previously used for coal mining to deliver renewable energy. RWE is acquiring SPCA and Riverstone’s equity interest in R3 and Peabody will retain a 25% equity interest.
The founding partners of R3 initiated the development of a 5.5 GW pipeline of 10 potential projects on reclaimed mining sites in Indiana and Illinois. RWE will acquire seven of the projects and enter into a joint venture with Peabody to continue development of the three remaining projects.
“This partnership is an exciting opportunity for RWE to invest in rural regions of Indiana and Illinois and bring strong economic development,” says Andrew Flanagan, CEO, RWE Clean Energy.
“RWE is thrilled to partner with Peabody through R3 Renewables to develop solar projects using reclaimed land on a significant scale. Solar and storage facilities are a great way to bring economic development via construction jobs, local and domestic investment, and direct community benefits and taxes as well as a contribution to energy security. RWE is excited to expand this partnership across the U.S. and globally to ensure local communities can benefit from the economic generation of the energy transition.”
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RWE, Peabody Partner to Develop Renewable Projects on Repurposed Mine Lands
Every day, our nation’s face is pushed a little bit further into the toilet.
Gotta love the creativity, and certainly the sentiment, that is captured by the artist whose work we see here.
In reality, however, Lady Liberty should be depicted sitting with slumped shoulders, tears rolling down her cheeks.
There has never been a moment anything like the present in U.S. history. A sociopathic criminal in the White House, bolstered by traitors in both Congress and the Supreme Court.
It’s always encouraging to see the emergence of another brilliant astrophysicist into our culture — not that his message here is particularly encouraging.
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