Brookfield buys US clean power developer Urban Grid

Asset manager’s renewables arm triples its US project pipeline with $650mn acquisition of solar and energy storage developer

Brookfield Renewable, the clean energy arm of Canada-headquartered Brookfield Asset Management, has tripled its pipeline of projects in the US through the purchase of solar and energy storage developer Urban Grid for $650mn. Under the deal, Brookfield Renewable will acquire Urban Grid’s pipeline of about 20GW of planned capacity across 12 US states. The pipeline is split between 13GW of solar and 7GW of energy storage. The deal brings Brookfield Renewable’s total pipeline in the US to about 31GW. 31GW – Brookfield’s US project pipeline after Urban Grid deal “The joining together of our outstanding teams and adding Urban Grid’s high-quality pipeline of clean energy projects presents an exce