German Power Giant RWE Shuns M&A for AI-Backed Renewable Growth

German power giant RWE AG is prioritizing building renewables to meet AI-led demand growth in the US and Europe and isn’t looking for deals to acquire power generation.

Chief Executive Officer Markus Krebber’s comments in an interview at Bloomberg News in New York Wednesday effectively squashed rumors the company is looking to own gas plants for the first time in the lower 48 states. He declined to offer specifics. There were reports last month that RWE was exploring purchasing a stake in US power-plant giant Calpine Corp.

“We currently have no plans for transactions” for any gas generation in ...