RWE expects to raise about €2bn ($2.38bn) through issuance of 61.5 million ordinary shares to help finance large-scale renewables development in Europe and the US, where the German utility is a leading onshore wind player and has big offshore ambitions.
“With the capital increase we can take our renewables growth to the next level,” said CEO Ralf Martin Schmitz, noting the move will raise the company’s share capital by 10%, adding financial flexibility to enhance its project pipeline.
