RWE and Peabody to develop renewable energy project that repurposes land previously used for coal mining. This global partnership aims to upgrade reclaimed land into solar and energy storage facilities, in order to generate clean and sustainable electricity for thousands of homes.
The RWE and Peabody land reclamation project
The new initiative is part of RWE’s commitment to the energy transition, leveraging the company’s expertise in developing large-scale solar and energy storage projects. Peabody, as a founding partner of R3 Renewables LLC, will contribute its extensive access to reclaimed mining lands in the US Midwest.
Through its majority stake in R3 Renewables, RWE will acquire the interests of Summit Partners and Riverstone Credit Partners, joining forces to continue the development of large solar energy projects. The partnership, which began with the idea of revitalizing rural areas affected by mining, focuses on the reuse of land in Indiana and Illinois, where the installation of state-of-the-art solar panels is planned.
The partnership will contribute to the growth of renewable energy in these regions, as well as strengthen energy security, reduce carbon emissions and improve the local economic outlook. These solar and energy storage projects are estimated to generate enough resources to power more than 850,000 homes.
The positive impact is not limited to the energy sector. In addition, the initiative will increase tax revenues for the areas involved, generating a cycle of economic growth that benefits both residents and the environment.
RWE, with its solid track record in developing sustainable projects, will lead the implementation of this innovative model that values recovered agricultural and mining lands. Peabody, for its part, reaffirms its commitment to environmental sustainability and the regeneration of communities affected by mining through this type of initiatives.
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Source and photo : RWE
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