Brookfield Renewable Acquires Urban Grid for USD650 Million

Deal In Brief

Brookfield Renewable, a renewable energy company, has acquired 100% stake in Urban Grid, a clean power developer, for a purchase consideration of USD650 million

Under the terms, Brookfield Renewable acquired pipeline of projects comprising approximately 13,000 MW of utility-scale solar and 7,000 MW of energy storage capacity. The addition of Urban Grid’s projects approximately triples Brookfield Renewable’s U.S. development pipeline to approximately 31,000 MW of capacity

Urban Grid, will continue under the Urban Grid brand name as an independent power producer (IPP). It has nearly 2,000 megawatts of under construction or ready-to-build solar projects, with an additional 4,000 MW of de-risked advanced stage buildout opportunities

Nomura Greentech acted as Urban Grid's exclusive financial advisor and Orrick, Herrington & Sutcliffe LLP acted as Urban Grid's legal advisor. Sidley Austin LLP acted as legal advisor to Brookfield Renewable

Solar megawatts are presented on a DC basis and storage megawatts are presented on an AC basis.

Deal Value (US$ Million)	650
Deal Type	Acquisition
Sub-Category	100% Acquisition
Deal Status	Completed: 2022-01-26

Deal Participants

Target (Company)	Urban Grid Solar
Acquirer (Company)	Brookfield Renewable Corp

Deal Rationale

The addition of Urban Grid’s projects approximately triples Brookfield Renewable's development pipeline to approximately 31,000 MW of capacity.

% Acquisition

100%

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