Britain’s National Grid announced on Monday that it has agreed to sell its US onshore renewables business to Canadian alternative investment giant Brookfield Asset Management and its partners in a deal worth $1.74bn, including debt, according to a report by Reuters.
The sale aligns with National Grid’s strategic shift towards prioritising its energy network operations, a plan outlined last May. By streamlining its portfolio, the company aims to reinforce its core infrastructure focus.
The deal, which remains subject to regulatory approvals, is expected to close in the first half of the financial year ending 31 March, 2026.
National Grid Renewables manages a portfolio of solar, onshore wind, and battery storage assets across the United States, with 1.8 gigawatts currently in operation and an additional 1.3 gigawatts under construction.
