RWE has signed a purchase agreement with Con Edison, Inc. to acquire all shares in Con Edison Clean Energy Businesses (Con Edison CEB).
Headquartered in Valhalla, New York, Con Edison CEB is an operator and developer of renewable energy plants in the United States, with about 3GW of operating capacity. Combining RWE’s and Con Edison CEB’s portfolios almost doubles RWE’s operating asset base in the U.S. to 7.2GW. Together, the companies have a combined project pipeline of more than 24GW in onshore wind, solar and batteries. Closing of the transaction is subject to customary regulatory approvals and is expected to take place in the first half of 2023.
