RWE acquires majority stake in R3 Renewables
German energy group RWE has acquired a majority stake in R3 Renewables, a joint venture (JV) formed by US coal miner Peabody Energy, Summit Partners Credit Advisors (SPCA), and Riverstone Credit Partners. The deal, for an undisclosed sum, involves RWE taking over the shares of SPCA and Riverstone Credit Partners, with Peabody retaining a 25% stake in the JV. R3 Renewables focuses on repurposing former coal mining sites into clean, renewable energy projects. The JV…