Finance
National Grid sells $1.7 billion US renewables arm to Brookfield
Published by Global Banking and Finance Review
Posted on February 24, 2025
2 min readLast updated: January 26, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on February 24, 2025
2 min readLast updated: January 26, 2026
National Grid sells its US renewables business to Brookfield for $1.74 billion, focusing on energy networks. Completion expected by March 2026.
(Reuters) - 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 and Grain liquefied natural gas (LNG) terminal in Britain as part of its divestment strategy announced last May.
Energy companies such as Shell, BP and Equinor have already begun to scale back investment or divest their renewables and low-carbon businesses because of declining profitability.
National Grid expects the deal with Brookfield and institutional partners including Brookfield Renewable Partners to be completed in the first half of the financial year to March 31, 2026, subject to regulatory approvals.
National Grid Renewables, based in Minneapolis, develops and operates solar, onshore wind and battery storage assets in the United States, with 1.8 gigawatts of capacity in operation and 1.3 gigawatts under construction.
Shares in National Grid, which runs Britain's energy systems and operates transmission and distribution networks in some parts of the United States, were up 1% in early trade.
Brookfield Renewable Partners' U.S. portfolio of hydropower, wind, solar and storage facilities spans 34 U.S. states.
($1 = 0.7896 pounds)
(Reporting by Yadarisa Shabong and Raechel Thankam Job in Bengaluru; Editing by Mrigank Dhaniwala, Eileen Soreng and David Goodman)
National Grid is selling its US onshore renewables business to Canadian investment firm Brookfield Asset Management.
The deal is valued at $1.74 billion, which includes debt.
National Grid is refocusing its investments on its energy network business and is seeking buyers for its renewables arm as part of its divestment strategy.
The deal is expected to be completed in the first half of the financial year ending March 31, 2026, subject to regulatory approvals.
National Grid Renewables develops and operates solar, onshore wind, and battery storage assets in the United States.
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