M&A Deal Summary |
|
|---|---|
| Date | 2022-10-01 |
| Target | Con Edison Clean Energy Businesses |
| Sector | Energy Services and Equipment |
| Buyer(s) | RWE Renewables Americas |
| Sellers(s) | Consolidated Edison |
| Deal Type | Divestiture |
| Deal Value | 6.8B USD |
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RWE Renewables Americas is an onshore wind company that provides renewable energy and owns more than 9 gigawatts of renewable energy capacity with another 2.6 GW under development. RWE committed itself to an ambitious CO2 reduction goal: Currently, around 60 percent of RWE’s electricity generation capacities are free from or low in carbon. This share will increase every year – until RWE is carbon-neutral in 2040. It develops, owns, and operates some of the most efficient, highest-performing renewable energy projects in the United States. Already active in onshore wind and photovoltaic renewable generation, E.ON Climate and Renewables as RWE Renewables’ predecessor has added energy storage to its portfolio and has developed and constructed more than 3,800 megawatts of renewable capacity in the United States since 2007. RWE Renewables Americas is based in Austin, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 1 |
| Sector (Energy Services and Equipment) | 1 of 1 |
| Type (Divestiture) | 1 of 1 |
| State (New York) | 1 of 1 |
| Country (United States) | 1 of 1 |
| Year (2022) | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
| Category | Company |
|---|---|
| Founded | 1823 |
| Sector | Utilities |
| Employees | 14,319 |
| Revenue | 15.7B USD (2022) |
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 (Energy Services and Equipment) | 3 of 3 |
| Type (Divestiture) | 3 of 3 |
| State (New York) | 2 of 2 |
| Country (United States) | 3 of 3 |
| Year (2022) | 1 of 1 |
| Size (of disclosed) | 1 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-06-30 |
Consolidated Edison - Contracted Renewable Portfolio
Tehachapi, California, United States Consolidated Edison's Contracted Renewable Portfolio consists of Coram Wind, a 102MW wind farm located in Tehachapi, CA, and Crane Solar, a 150MW solar project located in Crane, TX, as well as an adjacent 25MW battery development. Consolidated Edison's Contracted Renewable Portfolio is based in Tehachapi, California. |
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