February 24, 2025 - 10:55
National Grid has finalized an agreement to transfer ownership of its U.S. onshore renewable energy business to Brookfield Asset Management for a substantial $1.735 billion. This strategic move aligns with National Grid's ongoing efforts to concentrate more on its core network operations, streamlining its portfolio and enhancing operational efficiency.
The deal encompasses a range of renewable energy assets, including wind and solar projects, signaling a significant shift in the energy landscape as companies pivot towards more sustainable practices. Brookfield, known for its investments in renewable energy, aims to leverage these assets to expand its footprint in the U.S. market, contributing to the country’s transition to cleaner energy sources.
As the demand for renewable energy continues to rise, this acquisition positions Brookfield to play a crucial role in meeting future energy needs while supporting environmental sustainability. The transaction highlights the growing trend of investment in renewable energy as traditional energy companies adapt to changing market dynamics.
