New York’s largest utility, Consolidated Edison Inc., plans to sell its clean energy businesses to the U.S. arm of German conglomerate RWE AG for $6.8 billion. 

solar panels photo

ConEd, as it is better known, agreed to sell ConEd Clean Energy Business Inc. (CEB), and three related business units to RWE Renewables Americas LLC. The transaction is expected to close in the first half of 2023.

“The transaction…will allow Con Edison to sharply focus on our core utility businesses and the investments needed to lead New York’s ambitious clean energy transition,” said CEO Timothy P. Cawley.

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“We will continue to advocate for state approval of utility-owned...