National Grid Renewables sale announced
National Grid plc has agreed to sell its National Grid Renewables US onshore renewables business to Brookfield Asset Management.
Image for illustration purposes.
UK: National Grid plc has announced that it has agreed to sell its National Grid Renewables US onshore renewables business to Brookfield Asset Management and its institutional partners including Brookfield Renewable Partners. The transaction is an important step in delivering National Grid’s strategy to focus on networks and streamline its business.
The terms of the transaction imply an enterprise value for National Grid Renewables of $1.735 billion, but the final cash consideration will be subject to customary completion adjustments. Completion of the transaction will be subject to consents and regulatory approvals. National Grid expects that the transaction will complete in the first half of the financial year ending 31 March 2026.
Source: National Grid
#National Grid#National Grid Renewables#National Grid Renewables US#UK