Con Edison Development (CED), one of America's largest owners and operators of renewable energy infrastructure projects, announced the acquisition of Big Timber Wind, LLC, a 25-MW wind project that will provide Montana residents with low-cost electricity. CED purchased the company from BayWa r.e. Wind, LLC, a renewable energy developer, wholesaler and energy solutions provider. Big Timber Wind has substantially been completed and is expected to come online in the upcoming weeks.
"This is an attractive asset with a long term 25-year utility offtake contract, which is rare in the current market. Con Edison Development has been great to work with and we would like to thank them for transacting in relatively short order," said Florian Zerhusen, CEO of BayWa r.e. Wind, LLC.
"It was a pleasure to work with BayWa r.e. Wind. We are always looking for ways to expand our clean and renewable energy services nationwide. This acquisition plants a Con Edison Development flag in the state of Montana, supporting our continued growth across the region," said Mark Noyes, President and CEO of Con Edison Development.
About Con Edison Development
Con Edison Development (CED) develops, owns and operates renewable and energy infrastructure projects. The company is one of the largest owners and operators of solar projects in North America.
CED is focusing on energy infrastructure assets as part of a growth strategy and an overall corporate goal of responsible environmental stewardship. Through its deep resources and trusted relationships with a range of energy-related companies, CED currently owns and operates facilities generating more than 1350 MW DC / 1100 MW AC of renewable power across Arizona, California, Iowa, Massachusetts, Minnesota, Nevada, Nebraska, New Jersey, Pennsylvania, Rhode Island, South Dakota and Texas.
Con Edison Development is one of the clean energy businesses of Consolidated Edison, Inc. [NYSE: ED], the nation's oldest and one of the largest investor-owned energy companies, with approximately $13 billion in annual revenues and $47 billion in assets. More information can be obtained by calling 914- 993-2185 or visiting our website at www.coneddev.com. You can also visit the Consolidated Edison, Inc. website at www.conedison.com.
About BayWa r.e.
The international trading conglomerate BayWa AG pools all of its renewable activities in its subsidiary BayWa r.e. (renewable energy), which is predominately active in the wind and solar industry. Headquartered in Munich since inception in 1923, BayWa AG is a publicly traded company generating an estimated annual revenue of 15 billion Euros and employs over 17,000 individuals across its three core segments: Agriculture, Building Materials and Energy. With over 1,000 employees working in BayWa r.e. globally, the group has developed and constructed over 1,7GW and actively provides asset management for over 2GW. BayWa r.e. acquires, develops constructs and operates renewable energy projects as well as distributing PV components on a wholesale basis.
BayWa r.e. Wind, LLC is responsible for the groups North American activities in the wind sector. The company has been active in the U.S. since 2001 and was acquired by BayWa AG in 2011.
Media Contacts:
Christine Nevin
Con Edison Development
(914) 286-7094
nevinc@conedcss.com
Suzanne Munson
BayWa r.e. Wind, LLC
(858) 450-6800
munson@baywa-re.us
