Overview

• 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.