RWE Widens Footprint in U.S. Renewables with ConEd Deal

RWE Widens Footprint in U.S. Renewables with ConEd Deal

October 4, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Consolidated Edison Incorporated (NYSE:ED) (ConEd) (Baltimore, Maryland) recently agreed to sell its Con Edison Clean Energy businesses to RWE Renewables Americas LLC, a subsidiary of RWE AG (Essen, Germany), for $6.8 billion. The deal is a major win for the German utility, almost doubling its U.S. renewables portfolio to more than 7 gigawatts (GW).

Industrial Info is tracking more than $3.3 billion worth of renewable-energy projects from ConEd across the U.S., and about $9.7 billion worth of active projects from RWE's U.S. businesses. Although it is focused on generating power for New York City and parts of New Jersey, ConEd has renewable-energy assets in almost every major region of the continental U.S., including the West Coast, Mid-Atlantic and Rocky Mountains.

Other companies featured: Stantec Incorporated (NYSE:STN)

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