New York-based utility Consolidated Edison reported Thursday that its latest acquisition of renewable assets pushes it into second place among North American solar energy producers.
A ConEdison subsidiary completed the previously announced purchase of 980 MW in renewable production projects owned by a Sempra Energy subsidiary. The $1.6 billion acquisition brings ConEdison’s Clean Energy Businesses portfolio to 2,600 MW of renewable assets in 17 states.
“Our acquisition of these renewable energy assets builds on a strong record of environmental commitment, and our determination to be national leaders in clean energy initiatives,” said John McAvoy, Con Edison’s chairman and CEO. “Over the next three years, we will double the gas energy efficiency levels we offer customers and reduce overall usage during peak periods, while supporting the city and state’s climate and clean energy goals.
“We expect to invest $9.5 billion on our energy systems during this period to improve safety, maintain reliability, and reduce risk,” McAvoy added. “Our core energy systems remain the backbone of our operations, and will continue to serve as the platform for incorporating new renewable technologies.”
Included in the 980 MW purchase are a 379 MW share of projects that Sempra owned jointly with Con Edison Clean Energy Businesses.
Florida-based NextEra Energy Resources has reported it owns about 2,700 MW of solar capacity in California, Arizona, Georgia, Alabama and several other states.
(Rod Walton is content manager for Power Engineering and POWER-GEN International. He can be reached at 918-831-9177 and [email protected]).