The UK National Grid (NGG.US) will sell its US onshore renewable energy business to Bruker Corporation Field Assets Management (BAM.US).

The UK's National Grid plc (NGG.US) has agreed to sell its US onshore renewable energy business to Bruker Corporation, a Feldman Asset Management company, for $1.7 billion, in the midst of US President Trump's pledge to curb the development of green power. At the time of this deal, developers are closely watching the continuity of tax incentives in former President Biden's signed Inflation Reduction Act. So far, Trump's policies have mainly targeted offshore wind power, and the executive branch's ability to unilaterally intervene in renewable energy facilities primarily built on private land and supported by both parties is limited. According to a statement on Monday, the transaction is expected to be completed in the first half of the fiscal year ending March 31, 2026. The business being sold includes the development, construction, ownership, and operation of large-scale CECEP Solar Energy, onshore wind, and battery storage assets, with a current operating capacity of 1.8 gigawatts and an additional 1.3 gigawatts in projects under construction. The UK's National Grid will continue to operate power and gas networks serving over 20 million customers in New York and Massachusetts, and is also partnering with Germany's RWE AG to develop offshore wind projects in the Northeast, established during the previous government's time in office.