Urban Grid divestment completed
Published by Sarah Smith,
Assistant Editor
Energy Global,
Susgen, a capital provider and partner to sustainable energy development companies, has completed its divestment of the US clean power developer Urban Grid as part of its acquisition by Brookfield Renewable.
Founded in 2010, Urban Grid’s growth was accelerated in 2016 with an equity investment from Susgen. Under the partnership, Urban Grid were able to grow their team and expand their development pipeline to approximately 13 000 MW of solar, which when built will produce enough electricity to power 1.8 million US homes, and 7000 MW of flexible energy storage.
Joseph Pillai, CEO of Susgen, said of the acquisition, “We are delighted for Frank and the Urban Grid team and wish them every success in the next chapter of their exciting story with the expert team at Brookfield Renewable.”
Frank DePew, CEO of Urban Grid, said “We want to thank Susgen for their support of Urban Grid over the years, and during the process of closing the transaction with Brookfield Renewable.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Winter 2021 issue
The Winter issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including NOV, Shell Naturelle, Penspen, Future Market Insights, and more.
Read the article online at: https://www.energyglobal.com/solar/22022022/urban-grid-divestment-completed/
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