RWE CEO no offshore wind project faces difficulties
Capacity to grow to more than 65 GW from 35 GW today
Shares 2.8 at top of DAX index

FRANKFURTDUESSELDORF, Nov 28 Reuters Germany39;s top utility RWE will raise investment in green energy technologies to 55 billion euros 60 billion over the next seven years, it said on Tuesday, in a bid to become one of the world39;s largest renewables groups.

RWE struck a different tone to its larger rival Enel, which last week took a more cautious stance on renewables projects in the wake of inflation and supply chain issues that have gripped the sector.

None of RWE39;s offshore wind projects are facing economic difficulties, Chief Executive Markus Krebber said at the group39;s capital markets day, in a comment aimed at addressing investor concerns following related writedowns by BP BP.L, Orsted ORSTED.CO and Equinor EQNR.OL.

The group raised its target for the internal rate of return on future projects to 8 from the 6 guidance provided two years ago.

We ensured that we had a very deep dive of our offshore portfolio after what happened, Krebber said. We can confirm again that we don39;t have any problems with anything which is under construction, under development.

RWE39;s newest net cash investment target equates to an annual spending average of 7.9 billion euros in renewable energy, batteries, flexible generation and hydrogen projects, up from an average 6.7 billion for the 20212023 period.

Green capacity is expected to…