We can provide green power on a scale in the U.S. that a very few others can. So, when you are thinking of the largest corporate procures of green energy in that market, we can satisfy not only their existing needs, but their growing needs in the future in a meaningful way. The other thing that we are increasingly seeing, in particular in the U.S., given not only the size, but the breadth of our portfolio, is to use our different asset classes together to provide unique solutions to our customers. That might be pairing one of our hydro assets with wind and solar projects in the regions to provide 24/7 green power solutions to a customer that wants 100% clean energy. So, the U.S., it’s our biggest market today. But it’s also the market that we saw the most amount of M&A deployed into last year and the most amount of development progress last year.
Different years might have been slow, but the U.S. is always going to be one of our most active markets for at least the foreseeable future.
Ben Pham: Interesting. And are you still the most bullish on solar than in terms of your technologies?
Connor Teskey: Yes. So, I think it’s important to recognize we see solar as the fastest growing technology in terms of megawatts that will be added to the grid on a global basis, because it is the cheapest form of bulk electricity production in most markets. And it is on a relative basis, less operationally intensive to one, build and two, maintain. So today, I would say that, as we look at grids in major markets around the world, we would probably expect solar to be the fastest growing renewable technology. In terms of where we will invest our capital, we are completely in different. We will go wherever we see the most attractive risk adjusted returns, and we are seeing things across all technologies in the current environment.
Ben Pham: Okay. And maybe one last question on the countries, is there a country that are reaching that you are maybe initially looking right now that you want to be in potentially in 5 years?
Connor Teskey: Yes, sure. So, we have said for many years now that we are in all the regions around the world where we feel the need to be there. Obviously, last year, we made our first investments in Australia. We set up a team there. In fact, in this last quarter, we brought our first project online. That’s a market that we will continue to look at opportunities in. And I would say, we will continue to expand in Europe. We are not a large player in all the European markets, and they do have slightly different electricity grids. And we are seeing very, very strong moves by many regulatory bodies and governments in Europe to enable the faster build out of renewables, as that continent, if you will, tries to establish a greater form of energy security. So, I would say we are not talking any major changes beyond our historic geographical footprint, but probably just deepening our positions in what we already consider to be our core markets.
Ben Pham: Okay. That’s very helpful comment. Thank you.
Operator: Our next question comes from a line of Frederic Bastien with Raymond James.
Frederic Bastien: Good morning. Brookfield Infrastructure said yesterday, it’s taken some model still positions in publicly traded stocks. When you think about adding or acquiring operating assets to your portfolio, is the opportunity more weighted towards corporate carve outs right now? Are you also seeing good opportunities to forum for take private transactions?
