RWE expands in US with $6.8bn Con Edison deal

German utility nearly doubles its US renewables portfolio with purchase of US’ second-largest solar operator

German utility RWE has agreed to buy New York-based Con Edison Clean Energy Businesses (Con Edison CEB) in a $6.8bn deal it says will position it as the fourth-largest renewables company in the US. The acquisition, which is expected to close in the first half of next year, will almost double RWE’s US portfolio of operating assets to 7.2GW. Con Edison CEB, which is part of US energy group Consolidated Edison, operates c.3GW of capacity in the US, 90pc of which is solar. The deal will give RWE a total US project pipeline of 24GW spanning onshore wind, solar and batteries. “The acquisition of Con Edison [CEB] is a major boost for RWE’s green expansion in the US, one of the most attractive and f