Con Edison Clean Energy Businesses — 8 GW operating renewable portfolio + 24 GW development pipeline
RWE acquired Con Edison's clean energy businesses for $6.8B, gaining 8 GW of operating renewables and a 24 GW development pipeline. Transformed RWE into a Tier 1 US clean energy developer.
$6.80B
Deal Value
8,000MW
Capacity
Solar + Storage
Technology
Multi-state
Location
Deal Details
- Deal Type
- Corporate M&A
- Seller / Sponsor
- Con Edison
- Buyer / Financier
- RWE Clean Energy
- Deal Value
- $6.8B
- Stage
- Operating
- ISO/RTO
- Multiple
- Source
- RWE
Capital Structure
$6.80B
Total transaction value
Tranches
- Mandatory Convertible Bond (equity raise) · Qatar Investment Authority subsidiary (EUR 2,427.6M, ~9.09% of RWE AG post-conversion)
- $2.67B
Service Providers
Advisory & Legal
- Buyer Counsel
- Cravath, Swaine & Moore; Hengeler Mueller; Foley & Lardner; Steptoe & Johnson; Freshfields Bruckhaus Deringer
- Seller Counsel
- Latham & Watkins
- Seller Financial Advisor
- Barclays
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Leadership at the Counterparties
Recent executive moves at the firms named in this deal.
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