Brookfield Renewable buys Australian Origin Energy with 14GW renewables addition target

Facebook
Twitter
LinkedIn
Reddit
Email
Origin’s LNG generation will be sustained for supply stability whilst Brookfield builds out its renewable capacity. Image: CEFC

Renewable energy asset owner Brookfield Renewable has signed an agreement to acquire Origin Energy Limited, with a view to expanding its renewable generation capacity across Australia in the next decade.

The deal was made through a consortium with Brookfield’s partners GIC and Temasek as well as MidOcean Energy, a liquid natural gas (LNG) company under the control of EIG. Origin is valued at AU$18.7 billion (US$12.4 billion) under the transaction, with a sale share price of AU$8.91 (US$5.95).

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Brookfield and partners will acquire Origin’s Energy Markets business, whilst MidOcean and EIG will separately take ownership of its integrated gas segment.

Origin Energy is Australia’s largest integrated power generator and energy retailer with a 24% market share of the National Electricity Market (NEM). The majority of this to date has been LNG generation, with an existing 3.1GW fleet of gas and pumped hydro.

With the acquisition, Brookfield said that it intends to invest at least AU$20 billion to construct up to 14GW of renewable generation and storage capacity in the next decade. This additional capacity is expected to be sufficient to retire one of Australia’s largest coal plants and would account for one-fifth of the required utility-scale renewables capacity that the NEM said the country needs by 2030.

MidOcean will manage and retain Origin’s gas generation portfolio to maintain the stability of Australia’s network as it transitions to low-carbon.

Mark Carney, chair of Brookfield Asset Management and head of transition investing, said: “As the energy transition gathers pace, what’s needed is increasingly clear: faster deployment of large-scale renewables, the accelerated, responsible retirement of coal generation, and an interim, supportive role for gas as the dependable back-up fuel. Brookfield is determined that the new Origin Energy Markets will lead the way in all respects at this critical moment for the Australian economy.”

The Australian renewables market saw record investment in Q4 last year, though a report from its Clean Energy Council suggested that this record result could be an anomaly and more consistent investment would be needed if the sector is to reach its targets.

The same day as this announcement, Brookfield Renewable also confirmed that it is issuing a CA$400 million (US$293 million) green bond sale to repay debts it has incurred and fund new projects. The Series 16 notes will mature in 2033 – with an interest at a rate of 5.292% per year – and the offering is planned for completion by the end of the month.

Last year the company announced that it plans to commission 10GW worth of new renewables capacity in the next three years following a number of US acquisitions looking to take advantage of the solar PV benefits enshrined in the Inflation Reduction Act. Last week it also acquired the entirety of renewables developer X-Elio.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

September 17, 2025
US renewables developer Longroad Energy has reached financial close for its 400MW 1000 Mile solar project in the US state of Texas.
September 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
Spanish IPP Velto Renewables has acquired a portfolio of 53 operational solar assets in Spain with a combined capacity of 260MW.
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 
September 17, 2025
QatarEnergy has signed an EPC agreement with Samsung C&T for its 2GW Dukhan project. 
Premium
September 17, 2025
PV CellTech: Martin Pochtaruk, CEO of North American solar module manufacturer Heliene, says US producers must learn to survive without tax incentives.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA