Con Edison Clean Energy Businesses — 3 GW operating + 7 GW pipeline US renewables (largely solar in CA/TX)
RWE acquires Con Edison Clean Energy Businesses — $6.8B EV, largest 2022 US clean energy M&A. Closed March 2023. Combined RWE+CEB to ~7.2 GW US renewables (2nd largest US solar operator). Qatar Investment Authority took 9.1% of RWE via $2.43B convertible bond to fund deal.
$6.80B
Deal Value
3,000MW
Capacity
Solar
Technology
Multi-state
Location
Deal Details
- Deal Type
- Corporate M&A
- Seller / Sponsor
- Consolidated Edison, Inc. (NYSE: ED)
- Buyer / Financier
- RWE AG
- Deal Value
- $6.8B EV (11x EV/EBITDA)
- Stage
- Mixed (Operating + Development)
- ISO/RTO
- Multiple
- Source
- Utility Dive
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