National Grid Sells US Renewables Division to Brookfield for 17 Billion Dollars

In a significant strategic move, National Grid has finalised the sale of its American renewable energy assets to Canadian private equity firm Brookfield Asset Management for $1.735 billion. The transaction encompasses solar arrays, onshore wind farms, and battery storage facilities across the United States.

The divestment arrives nine months after National Grid’s £7 billion rights issue, during which the company signalled its intention to exit the US renewables sector. The organisation’s revised focus centres on its core energy networks businesses and a substantial £60 billion five-year infrastructure investment programme spanning both the UK and US markets.

The timing of National Grid’s exit coincides with a marked shift in American energy policy under the Trump administration. The president’s “drill, baby, drill” stance and executive orders halting federal support for renewable projects have created uncertainty in the green energy sector. Despite this political climate, market analysts maintain that renewables will remain crucial to meeting America’s vast energy demands.

The sale represents a complete reversal of National Grid’s 2019 strategy, which saw the company enter the US renewables market through its acquisition of Geronimo Energy. The division currently operates 1.8 gigawatts of installed capacity, capable of powering approximately 1.5 million homes, with an additional 1.3GW under construction.

National Grid’s shares responded positively to the announcement, rising 12.8p to 971p. This performance builds upon the success of last year’s rights issue, which saw investors participate at 645p per share. The company’s stock reached its recent peak at £10.56 in autumn 2024.

The transaction, expected to complete in summer 2026 subject to regulatory approvals, aligns with National Grid’s streamlined business strategy and strengthens its position to deliver on ambitious infrastructure projects in both its core markets.