RWE Clean Energy formed in US through acquisition of Con Edison Clean Energy Businesses

German multinational energy company RWE has closed its acquisition of all shares in Con Edison Clean Energy Businesses (CEB). New company RWE Clean Energy merges Con Edison CEB with RWE Renewables Americas.

With its expanded renewables portfolio of 8 GW of operating assets and a project development pipeline of more than 24 GW, the company is primarily invested in onshore wind, solar and battery storage.

In addition, however, RWE is expanding its offshore wind activities in the rapidly growing market in the US. Through offshore wind lease auctions in the New York Bight and California in 2022, RWE has secured sites with the potential to host a total of about 3.9 GW (pro rata RWE) installed capacity in offshore wind.

Growth from the acquisition of Con Edison CEB will come on top of RWE’s already existing expansion plans for the US. RWE had already earmarked up to €15bn for investments in the US as part of its Growing Green strategy, which foresees global investments of more than €50bn in its green portfolio by 2030.

Mark Noyes, CEO of Con Edison CEB since 2017, was appointed CEO of RWE Clean Energy as of March 1.