Con Edison Development, Inc. (CED)
Who We Are
Con Edison Development develops, owns and operates renewable and energy infrastructure projects. The company is an unregulated subsidiary of Consolidated Edison, Inc. [NYSE: ED], the nation's oldest and one of the largest investor-owned energy companies.
How We Began
Con Edison Development was formed in 1997. Through acquisitions, expansions and greenfield development, we quickly built a substantial portfolio of fossil-fueled and hydro-electric merchant generation assets in the Mid-Atlantic and New England regions that totaled 1700 MW. In 2008, the company completed the sale of its portfolio, realizing an approximate $400 million profit.
Where We Are Today
The company now is focusing on renewable energy and gas assets as part of an overall corporate goal of responsible environmental stewardship. Through its deep resources and trusted relationships with a range of energy-related companies, Con Edison Development already has built a renewable energy project pipeline of over 150 MW in California, New Jersey, Massachusetts, Connecticut, Pennsylvania and Rhode Island.
By targeting renewable asset development and operating energy assets in an environmentally responsible manner, Con Edison Development helps build the leadership position of Consolidated Edison Inc. (Con Edison) in the industry and enhances its reputation as a responsible steward of the environment.
Our Commitment to Renewable Energy
Consolidated Edison, Inc., parent company of Con Edison Development, has publicly announced a capital investment of over $250 million in renewable energy during the next three years through its unregulated subsidiaries. We are exploring opportunities to develop, own and operate a range of solar, wind, bio-diesel, flywheels and energy storage installations in the United States.