National Grid PLC has announced the sale of its US onshore renewable energy division for US$1.7 billion (£1.3 billion).
Brookfield Asset Management had agreed to buy the business, which develops and operates solar, onshore wind and battery storage projects, a statement said on Monday.
This had 1.8 gigawatts worth of capacity in operation and a further 1.3 gigawatts under construction, the statement added.
National Grid noted the sale was part of a wider strategy to shift focus to its network business and to streamline operations.
An enterprise value of US$1.7 billion had been agreed, with a final cash consideration yet to be determined ahead of the sale in the first half of the year to March 2026.