RWE has signed a purchase agreement with Con Edison to acquire all shares in Con Edison Clean Energy Businesses (Con Edison CEB) in the United States. Con Edison CEB is an operator and developer of renewables plants, with about 3 GW of operating capacity (90 % of solar), and a development pipeline of more than 7 GW. The two companies have agreed on a purchase price based on an enterprise value of US$6.8bn.
The deal, which is subject to customary regulatory approvals, should close in the first half of 2023. The acquisition would almost double RWE’s operating asset base in the US to 7.2 GW. Consequently, the company’s project pipeline could reach 24 GW. RWE has more than 30 projects in operation in the US, with a total installed generation capacity of 4.1 GW in onshore wind, solar and batteries.