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German energy company RWE will spend about 5 billion euros 鈥� 30 percent more than originally planned 颅鈥� on expanding its green portfolio in 2022, the company . 鈥淲e are investing in offshore and onshore wind, solar, batteries, and in ramping up the hydrogen economy,鈥� CEO Markus Krebber stated. 鈥淎ll this is urgently needed in order to make energy supply more independent and climate-neutral.鈥� The company鈥檚 earnings in the first half of 2022 鈥渋ncreased significantly鈥� and Krebber said that proceeds would be used to 鈥渂enefit the energy transition.鈥� Power generation from RWE鈥檚 renewables installations increased by 20 percent in the first half of 2022 compared to the same period last year due to increased capacity and favourable weather. RWE also said it has 鈥渘o intention to claim losses from a shortfall of Russian gas supply鈥� via a government mechanism that could be activated soon, .

Chancellor Scholz has insisted that the emergence of the energy crisis due to the war against Ukraine does not mean other major global crises such as climate change can be left unattended. The government also regards the move to climate neutrality as the best way to reduce dependence on Russian fossil fuels 鈥� as do other stakeholders, including industry 鈥� and said it aims to double down on efforts to transform the energy system 鈥渁t Tesla speed.鈥�