RWE and Peabody have announced a new partnership to strategically advance renewable energy projects by repurposing lands in Indiana and Illinois that were previously used for mining. 

The companies will work on a portfolio of 10 projects with a total capacity of more than 5.5 GW, focused on solar and energy storage. 

According to RWE, the planned renewable projects on the reclaimed lands have the potential to generate enough electricity to power the equivalent of more than 850.000 homes across the region. 

The initiative promotes the development of renewable energy in the Midcontinent Independent System Operator (MISO) region and supports economic growth by creating jobs and increasing tax revenues for the communities involved. 

The projects will preserve existing agricultural land, ensuring that rural areas benefit from economic growth. The partnership aims to meet the growing demand for electricity by bringing renewable energy to the grid, as well as jobs and income to communities that have contributed to U.S. energy production in other forms for generations. 

The company will acquire seven of the projects and form a joint venture with Peabody to continue the development of the remaining three projects. 
RWE is acquiring a majority stake in the R3 Renewables LLC ownership group along with founding partner Peabody. R3, a joint venture launched by Peabody (which will retain a 25 percent stake), Summit Partners Credit Advisors, and Riverstone Credit Partners, repurposes lands formerly used for Peabody’s coal mining operations to generate clean, renewable energy. RWE is acquiring the stake held by Summit and Riverstone in R3. 

Peabody’s Development Director and President of R3, Patrick Forkin, expressed his gratitude to Riverstone and Summit “for their collaboration in helping us launch this joint venture. Advancing the development of large-scale solar and storage projects on reclaimed lands that were previously used for our coal mining operations aligns with our mission and benefits all of our shareholders.” 

Meanwhile, Jim Grech, President and CEO of Peabody, noted that their new partnership with a “globally recognized leader in renewable energy represents a significant boost to our efforts to develop renewable projects on Peabody’s lands that were previously mined.”