Brookfield to buy Duke renewables portfolio
Duke Energy Corp. signs a deal to sell renewables portfolio to Brookfield Renewable for $1.1 B.
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USA, Raleigh: Duke Energy Corp. signs a deal to sell renewables portfolio to Brookfield Renewable for $1.1 B.
Duke Energy Corp. executives signed a deal to sell their utility-scale unregulated renewable energy portfolio to Brookfield Renewable for nearly $1.1 B.
The announcement represents a success for Chair, President and CEO Lynn Good and her team, who brought the company’s distributed energy business, their renewables group, to market last year, valued at $450 M.
“Brookfield has the resources to support the continued growth and success of the Commercial Renewables’ portfolio,” Good said in a statement. “This sale is an important step in our transition into a purely regulated company with significant grid and clean energy investment plans that will deliver benefits to our customers and stakeholders.”
The agreement with Brookfield, which has a total enterprise value of about $2.8 B, comprises more than 3.4 GW of solar, wind and battery storage assets as well as more than 2 GW under construction.
“We are also adding to our pipeline of renewable development projects, solidifying our position as one of the largest renewable energy businesses in the U.S. with almost 90,000 MW of operating and development assets,” said CEO Connor Teskey.
Source: T&D World
#Brookfield Renewable#Duke Energy Corp.#renewable energy portfolio