Source: Brookfield Renewable.
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  • Brookfield Renewable (BEP.UN) has acquired Urban Grid, a premier clean power developer, for US$650M
  • Urban Grid’s project pipeline includes 13,000 MW of utility-scale solar and 7,000 MW of energy storage capacity
  • The addition transforms Brookfield into one of the largest renewable developers in the U.S.
  • Brookfield Renewable Partners operates one of the world’s largest publicly traded, pure-play renewable power platforms
  • Brookfield Renewable (BEP.UN) is up by 1.98 per cent trading at $40.79 per share

Brookfield Renewable (BEP.UN) has acquired Urban Grid, a premier clean power developer, for US$650M.

Urban Grid’s project pipeline includes 13,000 MW of utility-scale solar and 7,000 MW of energy storage capacity.

It also has nearly 2,000 MW of solar projects under construction or ready to build, with an additional 4,000 MW of de-risked advanced-stage buildout opportunities.

The addition triples Brookfield Renewable’s U.S. development pipeline making it one of the largest renewable developers in the country.

“Urban Grid’s team not only deepens our development capabilities, but it also provides strategic access to key U.S. markets, serving as the perfect catalyst to accelerate Brookfield Renewable’s growth,” stated Mitch Davidson, CEO of Brookfield Renewable’s U.S. business.

“Our exceptional team and extraordinary portfolio combine to complement and expand Brookfield’s U.S. development operations, and this move enables the next phase of growth for our organizations,” added Frank DePew, President and CEO of Urban Grid.

Brookfield Renewable Partners operates one of the world’s largest publicly traded, pure-play renewable power platforms.

Brookfield Renewable (BEP.UN) is up by 1.98 per cent trading at $40.79 per share as of 10:12 am EST.

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