Con Ed's $3B green unit draws interest from TotalEnergies, RWE - Bloomberg

Aug. 05, 2022 4:05 PM ETConsolidated Edison, Inc. (ED)TTE, RWEOYBy: Carl Surran, SA News Editor14 Comments

Solar panels at dusk

Justin Paget/DigitalVision via Getty Images

Consolidated Edison's (NYSE:ED) planned sale of its renewable energy assets is attracting interest from European energy giants TotalEnergies (TTE) and RWE (OTCPK:RWEOY), Bloomberg reported Friday.

Global Infrastructure Partners also is said to be among potential buyers weighing offers of more than $3B, according to the report.

Con Ed (ED) operated ~3 GW of utility-scale renewable projects as of the end of 2021, including solar farms in Texas and California and wind farms in Nebraska, South Dakota and Montana.

Deliberations are ongoing, and there is no certainty the suitors will proceed with formal bids, the report said.

Consolidated Edison (ED) "has a strong track record of outperforming the broader market during times of low consumer confidence," Bela Lakos writes in a bullish analysis published on Seeking Alpha.

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