RWE Expands in US

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German utility RWE is expanding its renewable power operations in the US with the acquisition of the Con Edison Clean Energy Businesses. The purchase price is based on an enterprise value of $6.8 billion for the acquired businesses and will be funded in part with cash from Qatar's sovereign wealth fund. The deal is part of a growing energy relationship between Germany and Qatar as the former looks to import LNG to replace Russian pipeline gas and the latter seeks green investments for its $460 billion-plus sovereign wealth fund.

Renewable Electricity , Energy Storage, M&A
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