16 Jun 2023 .

Natural Power supports Brookfield's $2.8 billion investment in Duke Energy Renewables

Solar Panels in Sun

Leading renewable energy consultancy and service provider, Natural Power, has provided technical due diligence on behalf of Brookfield Renewable, one of the world’s largest clean energy investors, in support of its acquisition of Duke Energy Renewables for $2.8 billion.

Jim Adams, President of North America Operations at Natural Power, said: “Natural Power is proud to have supported Brookfield once again in its Duke Energy Renewables investment decision. We have seen an unprecedented level of interest in renewables M&A transactions, spurred by incentives under the Inflation Reduction Act. Natural Power is pleased to have been able to provide critical intelligence to support this decision.“

Duke’s portfolio is comprised of more than 5,900 MW of operating and under construction wind, solar, and battery storage assets, and a pipeline of more than 6,100 MW under development. The sale supports Duke’s shift toward a focus on its regulated utility and grid infrastructure.

“With this acquisition, we are adding a scale operating renewable platform located in highly attractive markets that we expect will immediately contribute meaningful cash flows with significant upside from potential asset repowering and synergies. 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 megawatts of operating and development assets” said Connor Teskey, CEO of Brookfield Renewable.

From its three US offices in New York, Seattle and the Denver area, the Natural Power team supports a range of clients including institutional investors and banks, developers, asset owners, power producers and utilities, as well as government organizations, delivering services throughout the region and beyond. To date, Natural Power’s U.S. team has delivered technical advisory services on more than 100GW of renewable energy projects. Find out more here.

Further reading

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