Duke Energy Divests Utility-Scale Commercial Renewables Unit To Brookfield For $2.8B
Portfolio Pulse from Nabaparna Bhattacharya
Duke Energy Corporation (DUK) has agreed to sell its Commercial Renewables business to Brookfield Renewable Partners L.P. (BEP) for $2.8 billion. The deal includes over 3,400 MW of utility-scale solar, wind, and battery storage across the US. Duke Energy will focus on its regulated businesses and plans to incorporate over 30,000 MW of regulated renewable energy by 2035.
June 13, 2023 | 12:24 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Duke Energy sells its Commercial Renewables business to Brookfield Renewable Partners for $2.8B, focusing on regulated businesses and renewable energy growth.
The sale of Duke Energy's Commercial Renewables business will help the company focus on its regulated businesses and renewable energy growth. This could have a neutral impact on the stock price in the short term, as the company is transitioning its business model and strengthening its balance sheet.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Brookfield Renewable Partners acquires Duke Energy's Commercial Renewables business for $2.8B, expanding its renewable energy portfolio.
The acquisition of Duke Energy's Commercial Renewables business will expand Brookfield Renewable Partners' renewable energy portfolio, solidifying its position as one of the largest renewable energy businesses in the US. This could have a positive impact on the stock price in the short term, as the company is increasing its operating and development assets.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100