FRANKFURT, Nov 13 (Reuters) - RWE, Germany's

largest power producer, on Wednesday said investments had been

lowered for the two coming years to help fund planned share

buybacks, citing delays to its offshore wind projects in the

United States and a slower ramp-up of the hydrogen economy in

Europe.

"We have recalibrated our capital allocation... In 2025 and

2026, we will invest around seven billion net per year," said

chief financial officer Michael Mueller in a statement to

reporters after the company presented nine-month results along

with the buyback announcement.

Shares were last up 7.5%.