Brookfield’s acquisition of Duke Energy’s unregulated commercial renewables business wrapped up this week, and with it the Deriva Energy brand has been established.
“Today is a significant milestone for our business and opens an exciting new chapter in our history,” says 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.”
Fallon had served as president of Duke Energy Sustainable Solutions since 2021.
“As part of Brookfield, we have access to capital for growth and a wealth of operating expertise,” he adds.
Brookfield has approximately 90 GW of combined operating and pipeline renewable energy capacity across all major U.S. power grids.