Brookfield recently unveiled a “new” operator and developer of clean power projects in the United States: Deriva Energy.
Deriva is the new name for Duke Energy’s unregulated commercial renewables business. Brookfield acquired the business from the utility for $2.8 billion.
“Today is a significant milestone for our business and opens an exciting new chapter in our history,” said Chris Fallon, President of Deriva Energy. “We are now an independent developer, owner, and operator of clean energy projects, with the backing of Brookfield, one of the world’s largest owners and operators of renewable power. As part of Brookfield, we have access to capital for growth and a wealth of operating expertise, which will enable us to continue our leadership in clean energy for many years to come.”
Brookfield is one of the world’s largest owners and operators of renewable power plants, with approximately 90 GW of combined operating and pipeline capacity across all major U.S. power grids.
With this deal specifically, Brookfield acquired more than 3.4 GW of utility-scale solar, wind and battery storage across the United States from Duke’s commercial renewables business. Deriva’s operations of business remains in Charlotte, North Carolina.
News item from Brookfield