Brookfield Renewable has acquired Scout Clean Energy for nearly $1 billion in cash from Quinbrook Infrastructure Partners.
Quinbrook has acquired Scout as a start-up in 2017 for an initial investment of $6 million. Quinbrook later deployed a further $470 million of equity capital. Scout has 1,200 MW of operational wind projects in four states at present.
Scout manages 400 MW on behalf of third parties, and plans to deliver over 22 GW of wind, solar and storage projects across 24 states by the end of this decade. Of these projects, 8.6 GW have interconnection queue positions and 2,500 MW are in late-stage development with pending construction starts.
Scout’s operating projects have generated an estimated 8.5 TWh of carbon-free power to date, avoiding an estimated 6 million tCO2e of carbon emissions based on average grid intensities.