Brookfield Renewable has announced two further investments in the US renewable energy sector. Brookfield Renewable has agreed to acquire Scout Clean Energy (Scout) for $1 billion with the potential to invest an additional $350 million to support the business’ development activities.
Scout’s portfolio includes over 1,200MW of operating wind assets, including 400MW managed on behalf of third parties, and a pipeline of over 22,000MW of wind, solar and storage projects across 24 states, including almost 2,500 MW of under construction and advanced-stage projects. Brookfield Renewable also announced the closing of its acquisition of Standard Solar for consideration of $540 million with the potential to invest an additional $160 million to support the business’ growth initiatives. Both Scout and Standard Solar will continue to operate as independent businesses within the Brookfield Renewable U.S. platform.