Brookfield powers up with $10B Neoen bid to lead Australia's renewables

Brookfield is set to become Australia's largest renewable energy operator with a $10 billion bid to acquire France's Neoen, following the rejection of a previous offer for Origin Energy (ASX:ORG).

Neoen's Australian projects, expected to deliver nearly 10 gigawatts over the next decade, will complement Brookfield's expansion plans.

The bid offers €39.85 ($65.08) per share. The move halts Bank of America's sale of a 30% stake in Neoen's Australian business, initially valued at $1.6 billion.

Brookfield aims to acquire the 53.32% stake held by Impala Investments and Neoen CEO Xavier Barbaro, followed by a mandatory tender for remaining shares, valuing Neoen at €6.06 billion ($9.90 billion).