- Goldman Sachs Alternatives to acquire the RWE U.S. Distributed Clean Energy business, establishing a standalone scaled distributed generation platform with approximately 348 MWdc of operating renewable assets and a 1.2 GW development pipeline across 16 states
- Transaction supports RWE America’s strategic focus on utility-scale power business in the United States
Austin and New York, July 29, 2026
RWE Americas, a leading power provider in the U.S., has signed an agreement to sell its U.S. Distributed Clean Energy (DCE) business to Infrastructure at Goldman Sachs Alternatives.
The RWE DCE business is comprised of approximately 348 megawatts-dc (308 MWac) of operating assets across 16 states, and a development pipeline of 1.2 gigawatts (GW). Following closing, the DCE business will continue to provide operations and maintenance, asset management and development activities. To ensure continuity for customers and partners, RWE employees who support DCE are expected to transfer with the business following completion of the transaction, facilitating a seamless transition and positioning it for meaningful growth as a standalone platform.
The transaction reinforces RWE America’s focus on its utility-scale power business in the U.S., while enabling the DCE business to continue its growth under new ownership. RWE Americas owns and operates 13 GW of power projects across 27 U.S. states, and is investing in the continued expansion of its portfolio, with plans to add 9 GW of wind, solar, battery storage and natural gas projects by 2031, to help meet America’s rapidly growing demand for reliable and affordable electricity.
Andrew Flanagan, Chief Executive Officer, RWE Americas: “Our Distributed Clean Energy business has built a strong platform with high-quality assets, long-standing customer relationships and, above all, an outstanding team. I would like to thank our DCE colleagues for their dedication and contribution to RWE’s success. This transaction allows RWE to further sharpen its strategic focus on growing our utility-scale power business in America, while positioning DCE for continued success under new ownership.”
Teresa Mattamouros, Managing Director within Infrastructure at Goldman Sachs Alternatives: “This acquisition represents a compelling opportunity to build a market-leading distributed generation platform at a pivotal moment for U.S. power infrastructure. DCE has a strong foundation of contracted, diversified operating assets and a significant, safe-harbored development pipeline. With dedicated capital, strategic sponsorship, and operational resources, Goldman Sachs Alternatives is well-positioned to accelerate the Company's growth and deliver critical clean energy capacity to communities and businesses across the country.”
Juan Felix, Managing Director within Infrastructure at Goldman Sachs Alternatives: “Distributed generation is among the most critical segments of U.S. power infrastructure. We have spent years building deep sector expertise and relationships across the distributed generation landscape, and this transaction reflects our conviction that a scaled, institutionally-backed platform can capture outsized value. The Company's proven development capabilities and diversified revenue base provide the ideal foundation for that strategy.”
The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close during the fourth quarter of 2026.
J.P. Morgan Securities plc is serving as financial advisor and Baker Botts L.L.P. is serving as legal advisor to RWE on the referenced sale and purchase transaction. Jefferies L.L.C. is serving as financial advisor and Weil, Gotshal & Manges L.L.P. is serving as legal counsel to Goldman Sachs Alternatives.
For more information, visit americas.rwe.com