LONDON, Oct 3 (Reuters Breakingviews) - European green assets are starting to look cheap. That’s the implication of Brookfield’s $1 billion swoop on Banks Renewables, one of the UK’s largest green energy developers. Having largely deployed a $15 billion energy transition-focused fund outside Europe, the Canadian investment giant’s new geographical focus is unlikely to be a one-off. Amid a green bubble in early 2021, when Orsted was worth $80 billion, Banks might have fetched way more. While Banks is big in onshore wind farms, the bulk of its 3.5 GW pipeline is focused on solar power and battery storage.

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Persons: Orsted, Banks, George Hay, Aimee Donnellan, Oliver Taslic Organizations: Reuters, Banks Renewables, International Energy Agency, Brookfield, X, Temasek, Thomson Locations: Europe, Brookfield