It increases our renewable energy production, enhancing our status as a market leader, and does so with assets close to where we operate other facilities, providing us with operating synergies. “The significance of the purchase is twofold for us. “Sempra has been an excellent operating partner and they demonstrated the same high level of professionalism throughout this transaction,” said Mark Noyes, the president and CEO of Con Edison Clean Energy Businesses. Included in the 980 MW AC purchase are a 379 MW share of projects that Sempra owned jointly with Con Edison Clean Energy Businesses. “Our core energy systems remain the backbone of our operations, and will continue to serve as the platform for incorporating new renewable technologies.” “We expect to invest $9.5 billion on our energy systems during this period to improve safety, maintain reliability, and reduce risk,” McAvoy added. “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. “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. The company’s energy efficiency program initiated in 2009 also has helped 600,000 customers with upgrades preventing more than 1.4 million tons of carbon emissions, equal to sidelining another 300,000 cars.The announcement coincided with Con Edison’s release of its 2017-2018 Sustainability Report. The acquisition makes Con Edison the second largest solar energy producer in North America.Īmong other highlights in the report, the company announced it has reduced its carbon footprint nearly in half since 2005, eliminating 2.52 million tons of carbon emissions, the equivalent of taking half a million cars off the road. The $1.6 billion acquisition brings the Con Edison Clean Energy Businesses portfolio of renewable assets to 2,600 MW AC in 17 states. 13, 2018 (GLOBE NEWSWIRE) - Consolidated Edison, Inc. (NYSE: ED) (“Con Edison”) announced today that its subsidiary has completed its previously announced purchase of a Sempra Energy subsidiary that owns 980 megawatts (MW) AC of operating renewable electric production projects and certain development rights for additional solar electric production and energy storage projects. Con Edison Now # 2 Solar Energy Producer in North AmericaĬompany’s New Sustainability Report Also Details Operational and Environmental Improvements
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