CBRE Group has acquired NRG Energy's renewable advisory division. Led by Miro Sutton, the NRG advisory group specializes in facilitating renewable energy deals.

It has brokered more than 5GW of clean power, focusing on community solar, large-scale energy contracts, such as Virtual Power Purchase Agreements, and other renewable opportunities. Additionally, the team advises on monetizing tax credits associated with renewable energy projects.

"Demand for renewable energy is accelerating as companies work to meet net-zero targets and other sustainability commitments," said Robert Bernard, CBRE's chief sustainability officer.

"However, integrating renewable energy into corporate real estate portfolios is a complex process. This acquisition allows us to offer a broader suite of energy-related sustainability services, helping our clients navigate the complexities of planning, sourcing, and managing renewable energy."

Miro Sutton, head of NRG Energy’s renewable advisory division, added: "The combination of our expertise with CBRE’s expansive client network enhances our ability to deliver streamlined, effective renewable energy solutions. This will help our clients meet their energy needs while significantly reducing carbon emissions."

CBRE and NRG will continue to collaborate post-acquisition.

The acquisition will likely support CBRE’s data center sector portfolio, providing them with a key tool in securing renewable energy for their data centers.

CBRE has closed several high-profile deals in the data center sector over 2024 so far. For example, in July, it received city approval for its data center expansion in Chandler, Arizona.

Before this, in June, it acquired the freehold of Cloud House, at 1 Muirfield Crescent in London's Docklands, from Abrdn for £48.65 million ($61.48m). Digital Realty operates Cloud House as its LHR19 data center.