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
I’m not a financial pro, but here’s some advice:
Don’t live on a budget. Make a lot of money and live far beneath your means. What value does luxury actually bring to your life, especially if it makes you nervous about running out of cash?
As I told my kids when they were growing up, “Unless you’re completely shallow, showing off your money is an idiotic thing to do. You make false friends and have people glomming onto you to sell you stuff you really don’t need.”
Warren Buffett still lives in a modest house in Nebraska, a state in which he could buy an entire country. Maybe there is something about him and his values that could benefit you.
I see.
There’s not enough land in Spain to support rooftop and ground-mounted solar at a fraction of the cost.
LOL.
It’s possible that right now, there are other civilizations observing the human race, studying us from afar, and noticing our decline into savagery and eventual extinction by turning billionaires into trillionaires.
People say that the principal weakness of human beings is that we can’t plan for the future as a species. Dogs are arguably even worse, though they aren’t consumed with greed. They don’t plot the starvation of millions of other dogs so they themselves can have enough food to last a billion years.
As an elderly man, I’ll be leaving this planet soon, but I won’t cease pondering this until my heart stops beating.
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