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 |
|Target (Company) ||Urban Grid Solar |
|Acquirer (Company) ||Brookfield Renewable Corp |
The addition of Urban Grid’s projects approximately triples Brookfield Renewable's development pipeline to approximately 31,000 MW of capacity.
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