Peabody, a leading coal company, and renewable energy developer RWE have partnered to convert reclaimed coal mine lands into solar energy facilities across Illinois and Indiana. This initiative aims to develop 5.5 gigawatts of solar capacity, enough to power 850,000 homes, through 10 potential projects.

The joint venture, called R3, will see Peabody retain a 25% stake, with RWE acquiring the majority from Summit Partners Credit Advisors and Riverstone Credit Partners. The projects will bolster renewable energy in the Midcontinent Independent System Operator (MISO) region, create jobs, generate tax revenues, and preserve agricultural lands by avoiding their use.

Peabody’s CEO, Jim Grech, emphasized the partnership’s role in advancing environmental sustainability and supporting local communities, while RWE’s Andrew Flanagan highlighted the economic and energy security benefits of solar development.