RWE completes acquisition of ConEdison Clean Energy
Post date: 02/03/2023 - 12:00
German energy group RWE AG has completed the acquisition of ConEdison Clean Energy Businesses, Inc. (ConEdison CEB), the renewable energy subsidiary of New York-based utility Consolidated Edison, Inc. (ConEdison). The deal had been agreed last October, and now »all relevant authorities have approved the acquisition«, according to RWE.
The company now has a renewable energy portfolio of eight gigawatts (GW) in the U.S., of which about 60 percent is onshore wind and 40 percent is solar. It also has a project pipeline of about 24 GW for onshore wind, solar and battery storage, and an additional 3.9 GW through auction awards for offshore wind. The newly formed RWE Clean Energy, LLC is the fourth largest renewable energy company in the U.S. and the second largest owner and operator of solar power plants, according to the group. Mark Noyes, previous CEO of ConEdison CEB, is appointed CEO of RWE Clean Energy.