RWE Clean Energy is exploring the sale of its US distributed clean energy business, a spokesperson told this news service.

The Austin, Texas-based renewable energy company has mandated JPMorgan to lead the process, two sources familiar with the situation and a sector executive said. Marketing material has gone out, one of the sources said.

RWE’s spokesperson declined to confirm whether JPMorgan is advising or whether the sale process has launched. The company’s US-distributed clean energy business continues to operate as usual, the spokesperson added.

The portfolio up for sale includes distributed generation (DG) assets acquired in 2022, when RWE bought Consolidated Edison Clean Energy Businesses (Con Edison CEB) in a deal based on an enterprise value of USD 6.8bn, said the first two sources and a third source familiar.

The portfolio also includes additional projects, the third source and the sector executive said.

RWE, a subsidiary of Germany’s RWE Group, does not plan to sell the utility-scale portion of the Con Edison CEB portfolio, the spokesperson said.

One of the sources estimated that the DG portfolio comprises about 250 megawatts (MW) of operational sites, along with some development projects.

RWE has one of the largest renewable energy footprints in the US, with roughly 10 gigawatts (GW) of operational wind, solar, and battery projects, according to its website. The bulk of these projects is utility-scale.

JPMorgan declined to comment.