National Grid has announced an agreement to sell its National Grid Renewables US onshore renewables business to Brookfield Asset Management and its institutional partners, including Brookfield Renewable Partners.
The transaction values National Grid Renewables at $1.735 billion, with the final cash consideration subject to customary completion adjustments.
National Grid Renewables develops, constructs, owns, and operates utility-scale solar, onshore wind, and battery storage assets in the United States, with 1.8 GW in operation and 1.3 GW under construction.
Completion of the sale is subject to regulatory approvals and consents. If these clearances are obtained, National Grid expects the transaction to be completed in the first half of the financial year ending 31 March 2026.
