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    Home > News > Power News > News Article

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    Brookfield Renewable Acquires Urban Grid for USD650 Million


    January 28, 2022 - Marketline - Deals

     

      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%

      (Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.)

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