National Grid sells $1.7 billion US renewables arm to Brookfield
Britain's National Grid has reached a deal to sell its U.S. onshore renewables business to Canadian investment firm Brookfield Asset Management for $1.74 billion including debt, it said on Monday. National Grid has been refocusing investments on its energy network business and seeking buyers for its renewables arm as part of its divestment strategy announced last May. The deal is expected to be completed in the first half of 2025/26 financial year, subject to regulatory approvals.
- This sale reflects a broader trend in the energy sector where companies are reassessing their priorities and scaling back investments in renewable energy, highlighting the need for more sustainable business strategies.
- What implications will this deal have on the competitive landscape of the US renewables market, particularly with Brookfield's existing portfolio of hydropower, wind, solar, and storage facilities?