Brookfield Asset Management and its institutional partners have signed a definitive agreement to acquire National Grid Renewables, the U.S. onshore renewables business of National Grid plc. The deal is valued at $1.74 billion, including debt.
National Grid Renewables specializes in building, owning, and operating utility-scale solar, onshore wind, and battery storage projects across the United States. The acquired portfolio includes 1.8 gigawatts of operational capacity and an additional 1.3 gigawatts currently under construction.
This acquisition represents a significant expansion of Brookfield's renewable power and transition portfolio, reinforcing its position in the clean energy sector. The transaction is expected to close in the first half of the financial year ending March 31, 2026, subject to customary closing conditions.
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