Brookfield to get 1GW US PV portfolio

• The $810m manage Exelon covers 360MW of functional solar and a 700MW advancement pipe

Brookfield Renewable and also its institutional partners are to obtain a distributed generation advancement platform from Exelon Generation Company comprising 360MW of operating solar in the United States, and an additional 700MW under development, for $810m.

The operating portfolio covers virtually 600 websites throughout the country, Brookfield claimed.

It added that the transaction represents a chance to get a "top notch operating portfolio with a strong advancement pipeline of advanced-stage projects and also a devoted power purchase contract source group with a consistent performance history of delivering high value projects to consumers".

The portfolio is contracted under long-term PPAs, and also Brookfield Renewable intends to leverage its range, and operating and also industrial capacities to drive additional value, the firm claimed.

The offer is subject to normal closing conditions and is expected to close in the very first half of 2021.

Brookfield Renewable chief executive Connor Teskey (envisioned) said: "We went into the distributed generation space in 2017, as we identified a significant opportunity to construct a high-quality range organization in a rapidly growing market.

" Since after that, we have actually expanded the business as expense declines in solar innovation and also decarbonisation ambitions from commercial and also industrial clients sped up.

" Today, we are proprietors of one of the leading distributed generation businesses in the United States, with deep operating, growth as well as origination abilities, and an around 2000MW portfolio that generates top notch acquired capital that are diversified by geography as well as client.

" This financial investment represents the extension of this method and enhances our goal of partnering with corporates and various other organizations to help them achieve their decarbonisation purposes."