7th Mar 2019 08:35
LONDON (Alliance News) - Utility National Grid PLC on Thursday said it has agreed the USD100 million acquisition of a Minnesota-based clean energy firm.
National Grid will be buying Geronimo Energy, based in Minneapolis, a company which it said has developed over 2,200 megawatts of wind and solar projects.
Geronimo has a "significant" development pipeline of projects at various stages throughout the US.
National Grid is also in talks to buy a 51% share in 378 megawatts worth of solar and wind projects developed by Geronimo, which would cost USD125 million.
The projects would be owned alongside Washington State Investment Board, and operated by National Grid.
National Grid shares were 0.3% higher on Thursday morning at 849.10 pence each.
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