M&A Deal Summary

Consolidated Edison Acquires Sempra Energy - U.S. Solar Assets

On September 20, 2018, Consolidated Edison acquired renewable energy company Sempra Energy - U.S. Solar Assets from Sempra for 1.5B USD

Acquisition Highlights
  • This is Consolidated Edison’s 2nd transaction in the Renewable Energy sector.
  • This is Consolidated Edison’s largest (disclosed) transaction.
  • This is Consolidated Edison’s 3rd transaction in the United States.
  • This is Consolidated Edison’s 1st transaction in California.

M&A Deal Summary
Date 2018-09-20
Target Sempra Energy - U.S. Solar Assets
Sector Renewable Energy
Buyer(s) Consolidated Edison
Sellers(s) Sempra
Deal Type Divestiture
Deal Value 1.5B USD

Target

Sempra Energy - U.S. Solar Assets

San Diego, California, United States
Sempra Energy - U.S. Solar Assets includes Mesquite Solar 2 and 3 in Arizona; Copper Mountain Solar 1 and 4 in Nevada; Great Valley Solar in California; and solar and battery storage development projects.

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Buyer(S) 1

Buyer

Consolidated Edison

New York, New York, United States

website

Category Company
Founded 1823
Sector Utilities
Employees14,319
Revenue 15.7B USD (2022)
DESCRIPTION

Consolidated Edison is a provider of electricity, natural gas and steam to customers in New York City and Westchester County. Con Edison of New York provides electric service to approximately 3.3 million customers and gas service to approximately 1.1 million customers . The company also provides steam service in parts of Manhattan. Consolidated Edison was incorporated in 1823 and is headquartered in New York, New York.

DEAL STATS #
Overall 3 of 3
Sector (Renewable Energy) 2 of 2
Type (Divestiture) 2 of 2
State (California) 1 of 1
Country (United States) 3 of 3
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-30 Juhl Energy - Three Key Assets

Mississippi, United States

Juhl Energy, Inc.'s consists of wind projects that have a total capacity of approximately 36 megawatts, operating and maintenance ("O&M") services business and pipeline of wind projects, primarily larger projects, consisting of approximately 500 MW. Juhl Energy, Inc. - Three Key Assets are based in Chanhassen, Mississippi.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Stagecoach

Owego, New York, United States

Stagecoach consists of 4 natural gas storage facilities with a total FERC-certificated working gas capacity of 41 billion cubic feet and 185 miles of natural gas pipelines.

Sell $1.2B

Seller(S) 1

SELLER

Sempra

San Diego, California, United States

website

Category Company
Founded 1998
Sector Utilities
Employees18,000
Revenue 12.9B USD (2021)
DESCRIPTION
Sempra Energy's corporate headquarters in downtown San Diego, California.
Sempra Energy's corporate headquarters in downtown San Diego, California.

Sempra develops and operates critical energy infrastructure and provides gas and electricity services primarily in the Western United States. Sempra was founded in 1998 and is based in San Diego, California.

DEAL STATS #
Overall 3 of 8
Sector (Renewable Energy) 2 of 3
Type (Divestiture) 2 of 7
State (California) 1 of 4
Country (United States) 3 of 6
Year (2018) 1 of 1
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 EnergySouth

Mobile, Alabama, United States

EnergySouth, Inc. is a distributor and transporter of natural gas in the United States. EnergySouth also owns two large, high-cycle underground natural gas storage facilities.

Buy $510M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 Sempra Energy - U.S. Natural Gas Storage Facilities

San Diego, California, United States

Sempra Energy - U.S. Natural Gas Storage Facilities is a provider of natural gas storage facilities.

Sell $332M
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