US power and gas utility Sempra Energy has completed the sale of a renewable energy portfolio to the electricity and gas provider Consolidated Edison (Con Edison) for a total consideration of approximately US$1.6bn in cash. The transaction includes several operational solar power plants along with solar and battery storage development projects. The sale represents approximately 980 MWac of installed capacity. With the acquisition, Con Edison becomes a top solar power producer in North America and expands its renewables portfolio to 2,600 MW, with assets in 17 US states.
The operational solar plants included in the transaction are namely: the Mesquite Solar 2 and Mesquite Solar 3 assets in Arizona (US), the Copper Mountain Solar 1 and Copper Mountain Solar 4 facilities in Nevada along with the Great Valley Solar plant in California. It also entails Sempra Energy's interests in assets which were previously co-owned with Con Edison renewable energy business units: Mesquite Solar 1, Copper Mountain Solar 2 and Copper Mountain Solar 3, the Alpaugh, Corcoran and White River solar facilities in California and the Broken Bow II wind park in Nebraska.
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