RWE to Supply Electricity to Rivian's Charging Network Under 15-Year Agreement

By Denny Jacob

RWE signed a 15-year power purchase agreement with electric vehicle manufacturer Rivian for the electricity from one of its upgraded wind projects in West Texas.

The renewable energy company said its wind farm will help supply Rivian's fast-charging network. The wind farm is currently undergoing upgrades that help extend the lifetime of the facility, which is expected to be completed in mid-2025.

Financial terms of the deal weren't disclosed.

"We are investing in clean energy projects to support the needs of energy-intensive companies, and PPAs like this one with Rivian facilitate those investments," said RWE Chief Executive Andrew Flanagan.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

10-31-24 0950ET