National Grid sells US renewables arm to Brookfield for $1.7bn
Power Engineering International
Posted on: 25 February 2025
National Grid has agreed to sell its Renewables US onshore renewables business to Brookfield Asset Management and its partners.
National Grid has agreed to sell its Renewables US onshore renewables business to Brookfield Asset Management and its partners.
The deal is valued at $1.735 billion, with the final cash consideration subject to customary completion adjustments.
According to National Grid, the sale aligns with its strategy to focus on networks and streamline its business activities accordingly.
National Grid expects that the transaction will be complete in the first half of 2026.
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National Grid Renewables develops, constructs, owns, and operates utility-scale, solar, onshore wind and battery storage assets in the United States of America, with 1.8GW in operation and 1.3GW under construction.
Brookfield operates across five continents, managing a portfolio including hydro, wind, solar, distributed energy, storage and sustainable solutions.
The asset managers currently operate almost 34,000MW of generating capacity.
