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
Hybrid
Technology
Multi-state
Location
Deal Details
- Deal Type
- Platform
- 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
Related Deals
Origis Energy — $1B+ strategic investment in US solar and storage developer with 1 GW operating, 3 GW construction-ready, 25 GW pipeline
Origis Energy → Brookfield Asset Management, Antin Infrastructure Partners
$1B+
Global Infrastructure Partners (GIP) — world's largest independent infrastructure fund with 19+ GW operational renewables, 173 GW in construction/development
Global Infrastructure Partners → BlackRock
$12.5B
Recurrent Energy — 20% stake in Canadian Solar's renewable energy subsidiary (11 GWp solar + 3 GWh storage globally)
Recurrent Energy → BlackRock
$500M
RWE's first US green bonds — two tranches of $1B each (10-year and 30-year maturities) to fund US renewable energy projects across 146 solar, onshore wind, and battery storage sites
RWE AG → Multiple (bond investors)
$2B
Brookfield-Microsoft framework PPA — 10.5 GW new renewable energy capacity across US and Europe (2026-2030)
Brookfield Renewable → Microsoft
$10B+
Enel Green Power NA geothermal and solar portfolio — Cove Fort (UT), Stillwater & Salt Wells (NV), solar assets (CT)
Enel Green Power North America → Ormat Technologies
$271M
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.