RECORD DEAL:
About US$2.38 billion of the financing for the buyout of Consolidated Edison’s green assets is expected to come from the Qatar Investment Authority
German utility RWE AG agreed to buy Consolidated Edison Inc’s renewable energy assets for US$6.8 billion in one of the biggest green deals in US history.
RWE is one of Germany’s main energy providers, with production historically linked to coal, which placed it among the country’s largest carbon dioxide polluters. The group has accelerated its diversification into renewables in recent years.
The deal almost doubles RWE’s renewables portfolio in the US to more than 7 gigawatts, the company said in a statement.
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