National Grid Sells US Renewables Business to Brookfield for $1.74 Billion

The sale aligns with National Grid's strategy to prioritize core energy networks and fund major infrastructure investments in the UK and US.

National Grid has agreed to sell its US renewables division to Brookfield Asset Management for $1.74 billion, with the transaction expected to close by September 2025.
The US renewables arm includes 1.8 GW of operational capacity and 1.3 GW under construction across solar, wind, and battery storage in 34 states.
This divestment is part of National Grid's broader plan, announced in May 2024, to streamline its business and focus on energy networks while raising £6.8 billion for infrastructure upgrades.
Brookfield Asset Management, which operates 15 GW of renewables in the US and has 69 GW in development, sees strong growth potential in the American renewable energy market.
The sale reflects a broader trend of energy companies like Shell and Duke Energy reevaluating their renewable energy strategies due to profitability challenges.