Brookfield to acquire National Grid Renewables

Facebook
Twitter
LinkedIn
Reddit
Email
National Grid Renewables' Yellowbud solar project in Ohio.
National Grid Renewables has a portfolio of around 3GW of US renewable energy assets. Image: National Grid Renewables.

National Grid, the UK transmission system operator, has sold its North American renewable energy development business to Canadian asset manager Brookfield.

The deal values National Grid Renewables—the business division in question—at approximately US$1.735 billion. The company said it expects the deal to be complete in the first half of the next financial year, ending 31 March 2026—meaning roughly between April and October 2025.

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

National Grid Renewables said the sale was part of its strategy to “focus on networks and streamline our business.”

In acquiring National Grid Renewables, Brookfield will acquire a roughly 3GW portfolio of operational or under-development solar, energy storage and onshore wind assets.

The transaction continues Brookfield’s global accumulation of renewable energy assets. The asset manager bought major US utility Duke Energy’s commercial utility-scale solar business for US$2.8 billion in 2023 – at a time when highly profitable solar assets were being snapped up by investors across the US – and it also owns Scout Clean Energy and Standard Solar, which it bought for around US$2 billion in 2022.

Outside the US, the company recently launched a US$6.1 billion bid to acquire French independent power producer Neoen and has also bought assets in Australia and India to the tune of billions-of-dollars.

Beyond this, last year it launched the second round of its Global Transition Fund, led by Canadian banker and former head of the Bank of England, Mark Carney. The first US$10 billion of this fund was raised in February 2024.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
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.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

Premium
October 13, 2025
Brett Beattie of Castillo Engineering looks at some of the key land grading work that can make multimillion-dollar differences to projects.
October 13, 2025
Korean chemical production firm OCI Holdings has acquired a 65% stake in a Vietnamese solar wafer production plant, intending to export solar wafers to the US.
October 13, 2025
The Trump administration has cancelled the 6.2GW Esmeralda 7 solar project in Nevada – once touted as one of the largest in the world.
October 13, 2025
ANSI has approved a new traceability standard proposed by the SEIA to improve transparency of the solar and storage supply chain.
October 13, 2025
US solar manufacturer T1 Energy has acquired a minority stake in fellow US-based solar cell producer Talon PV.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK