National Grid Renewables — 1.8 GW operating + 1.3 GW under construction solar, wind, and storage across 34 states
Brookfield acquires National Grid's US onshore renewables business. 1.9 GW solar + 314 MW wind + 657 MW storage in operation or construction, plus 2.5 GW development pipeline. Part of National Grid's £6.8B capital raise to fund UK grid upgrades. Natural Power provided technical due diligence. Valuation 25% below S&P's forecast — reflecting IRA policy uncertainty.
$1.74B
Deal Value
3,100MW
Capacity
657MWh
Storage
Solar + Storage
Technology
Multi-state
Location
Deal Details
- Deal Type
- Corporate M&A
- Seller / Sponsor
- National Grid
- Buyer / Financier
- Brookfield Asset Management
- Deal Value
- $1.735B
- Stage
- Mixed (Operating + Construction + Development)
- ISO/RTO
- Multiple
- Source
- pv magazine USA
Service Providers
Advisory & Legal
- Independent Engineer
- Natural Power
- Seller Counsel
- Morgan Lewis
- Buyer Counsel
- Skadden, Arps, Slate, Meagher & Flom
- notes
- Natural Power served as IE on the 3.1 GW portfolio (1.8 GW operating + 1.3 GW under construction).
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