Con Edison’s big buy: 943 MW of solar from Sempra

The $1.54 billion transaction will make Con Edison the 2nd-largest owner of operational solar assets in the United States, and is expected to close by the end of the year. Over the last few years we have seen big power companies and asset managers move whole-hog into solar ownership, swooping up the projects formerly owned by independents and trading and consolidating among themselves. And as the scale of solar deployed in the United States grows, the deals just keep getting bigger. A new high was reached yesterday afternoon, when Con Edison announced its plan to buy 943 MW of operational solar plants and a 38 MW wind farm from Sempra, in a $1.54 billion transaction. The deal still needs approval from the Department of Energy and the Federal Energy Regulatory Commission, but Con Edison expects it to close by the end of the year.