Britain's National Grid has reached a deal to sell its U.S. onshore renewables business to Canadian investment firm Brookfield Asset Management for $1.74 billion including debt, it said on Monday.

National Grid expects the transaction to be completed in the first half of the financial year ending March 31, 2026.

National Grid (NYSE:NGG) said Monday it agreed to sell its onshore renewable business in the U.S. to Brookfield Asset Management (BAM) for $1.735B, including debt. National Grid (NYSE:NGG) said it expects the deal with Brookfield and institutional partners including Brookfield Renewable Partners (BEP) be completed in the first half of the