ConEd agrees to sell its clean energy business for $6.8 billion to RWE

Consolidated Edison agreed to sell its renewable energy business to a German energy company RWE for $6.8 billion, the companies announced on Saturday.

The deal nearly doubles RWE’s renewable energy portfolio in the United States and will make it the second-largest solar operator in the country, the company said in a statement. ConEd’s portfolio includes more than 10 gigawatts of renewable projects in operation or under development.