National Grid has made its first foray into wind power with plans to acquire an American renewable energy developer and projects in the Midwest. The FTSE 100 utility group said that it had agreed to pay $100 million for Geronimo Energy, which develops onshore wind and solar farms. It is also working on a $125 million deal to acquire 378 megawatts of projects developed by the company. National Grid, which reported pre-tax profits of £2.7 billion in the last financial year, is best known for managing Britain’s electricity and gas transmission networks. It also has a substantial regulated business in the northeast of the United States, comprising networks, generation and supply, which accounts for about half of its group operating profits. About 16,000 of the group’s 22,000 employees are in America.
Times 8th March 2019 read more »
Telegraph 7th March 2019 read more »