National Grid has agreed to sell its National Grid Renewables US onshore renewables business to Brookfield Asset Management and its institutional partners including Brookfield Renewable Partners.
The prospective sale announced today is part of the National Grid’s previously communicated strategy to focus on networks and streamline its business.
The terms of the transaction imply an enterprise value for National Grid Renewables of $1.735 billion. The final cash consideration will be subject to customary completion adjustments.
Subject to regulatory approvals and legal clearnaces the deal is expected to be done in the first half of the financial year ending 31 March 2026.
National Grid Renewables 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.
