The Canadian investment giant sweating on regulatory approvals for its $18 billion bid for Origin Energy says it can deal with any transition challenge.
Connor Teskey, chief executive of Brookfield’s global renewable power and transition business.
Working in the economy’s favour is that Brookfield is one of the largest – if not the largest – renewable energy developer in the world and already commissions 5000 megawatts to 7000 MW of new clean generation each year. Visiting Australia last week, Mr Teskey said Brookfield’s Origin tilt was attracting a lot of attention both within the firm and more widely, and Origin “feels special” because of the scale of the decarbonisation opportunity and potential benefits on offer.
Origin’s rapidly growing distributed energy business – which has 815 MW of customer batteries and other flexible demand loads at residential and commercial and industrial customer premises under “orchestration” – is especially alluring to Brookfield. Origin can commandeer these distributed energy resources – also known as virtual power plants or VPPs – during supply squeezes to keep the grid stable. It plans to grow its VPP to 2000 MW by 2026.
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