Brookfield Renewable adds 7GW energy storage to pipeline through US$650m Urban Grid acquisition

By Jules Scully
February 7, 2022
LinkedIn
Twitter
Reddit
Facebook
Email
Urban Grid’s project pipeline includes colocated and standalone energy storage as well as utility-scale solar PV. Image: Urban Grid.

Renewables owner and operator Brookfield Renewable has tripled its US development pipeline to 31GW through the US$650 million acquisition of clean power developer Urban Grid.

The deal sees Brookfield Renewable, an affiliate of Brookfield Asset Management, take on Urban Grid’s pipeline, which includes 13GW of utility-scale solar and 7GW of energy storage across 12 US states.

Virginia-headquartered Urban Grid has nearly 2GW of under construction or ready-to-build solar projects. The business will continue to operate as an independent power producer (IPP) under its current name.

Brookfield Renewable said it will leverage its commercial capabilities to optimise the value of the developer’s pipeline.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The acquisition follows Urban Grid closing US$275 million of debt refinance that was provided by asset management firm Crayhill Capital Management last October to scale up the developer’s solar and energy storage platform.

To read the full version of this story visit PV Tech.

Read Next

October 27, 2025
The Emirati state-owned renewables developer Masdar has begun construction on a giant solar-plus-storage project in Abu Dhabi.
October 24, 2025
Redwood Materials has closed a US$350 million Series E funding round to scale up its critical battery materials and energy storage businesses.
Premium
October 24, 2025
San Diego Gas & Electric (SDG&E) is seeking regulatory approval to acquire an operational portion of a BESS facility located in Imperial County, California, from the US development arm of German multinational energy company RWE. 
October 24, 2025
Peregrine Energy Solutions has secured US$130 million from investors including the South Korean Ministry of Environment.
October 24, 2025
Energy-Storage.news proudly presents our sponsored webinar with Wärtsilä, demystifying the BESS metrics that matter most.

Most Popular

Email Newsletter