Sempra Energy is selling its non-utility renewable energy and storage assets to Consolidated Edison for $1.54 billion.
San Diego-based Sempra is divesting itself of solar facilities in Arizona, Nevada and California as well as a wind energy site in Nebraska. The sale to New York-based ConEd is part of Sempra’s multi-phase strategic review, which includes eventually include selling all of the company’s non-utility wind and some midstream natural gas assets in the U.S.
“This sale represents an important step forward in the portfolio-optimization plan we announced in June to support market growth opportunities,” said Joseph A. Householder, president and chief operating officer of Sempra Energy, in a statement. “We plan to work closely with Consolidated Edison to ensure a smooth transition.”
The solar sites include Mesquite in Arizona, Copper Mountain in Nevada, as well as Great Valley, Alpaugh, Corcoran and White River in California. Sempra is also selling the Broken Bow II wind energy site in Nebraska.
Altogether, those sites total approximately 980 MW of installed generation capacity. The sale is expected to be completed by the end of this year.