• $1.74B Deal: National Grid divests its U.S. onshore renewables arm for $1.74 billion, including debt.
• Strategic Shift: The move supports National Grid’s refocus on its core energy network investments.
• Pending Close: Transaction expected to complete by March 31, 2026, pending regulatory approvals.

National Grid is offloading its U.S. onshore renewables business to Brookfield Asset Management as part of a broader divestment strategy. The sale, valued at $1.74 billion including debt, reflects the company’s decision to concentrate on its energy network business—a shift announced last May.

Energy industry players like Shell, BP, and Equinor are also curbing investments in renewables and low-carbon projects amid declining profitability. National Grid’s U.S. renewables division, based in Minneapolis, develops and operates solar, onshore wind, and battery storage assets. Meanwhile, Brookfield Renewable Partners bolsters Brookfield’s portfolio, which spans hydropower, wind, solar, and storage facilities across 34 U.S. states.

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The deal, involving institutional partners including Brookfield Renewable Partners, is slated for completion in the first half of the financial year ending March 31, 2026, subject to regulatory approvals.

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