German energy developer RWE will purchase New York City-based utility Consolidated Edison’s clean energy business for $6.8 billion, subject to approvals—setting up a pipeline for construction of 24 GW of onshore wind, solar and battery storage projects that it says will add to about $15.3 billion of renewables business investments it reports in the U.S.
“The acquisition of Con Edison Clean Energy Businesses is a major boost for RWE’s green expansion in the U.S., one of the most attractive and fastest growing markets for renewable energy,” Markus Krebber, RWE’s CEO, said in a statement.