RWE AG, a German energy firm, has plans to buy Consolidated Edison’s Clean Energy Businesses for an enterprise value of $6.8 billion. Closing of the transaction is expected to take place in the first half of 2023.
It is considered one of the biggest-ever green deals in the United States.
The deal will almost double RWE’s renewables portfolio in the United States to more than gigawatts (GW) and grow its regional project pipeline to more than 24 GW.
A combined project pipeline of more than 24 GW in onshore wind, solar and batteries provides one of the largest development platforms for renewable energy in the United States. In addition, RWE is also forging ahead with the expansion of its global offshore wind activities in the United States. Growth from the acquisition will come on top of RWE’s existing growth plans for the United States. RWE had already earmarked up to €15 billion ($14.75 billion) gross for investment in the United States as part of its Gro