National Grid Acquires Minnesota-Based Renewable Developer in $100 Million Deal

PUBLISH DATE
17 Jul, 2019 at 9:00 am
National Grid Geronimo

National Grid plc completed a $100 million transaction through its competitive non-regulated unit National Grid Ventures, acquiring Geronimo Energy LLC, a prominent wind and solar developer in North America, according to July 15 news release.

The company also entered into an agreement with the Washington State Investment Board for a 51 percent stake in a joint venture that acquired about 379 megawatts of solar and wind projects from Geronimo Renewable Infrastructure Partners. National Grid said it paid about $125 million for the controlling share.

Minnesota-based Geronimo Energy has developed over 2.2 gigawatts of wind and solar projects that are operational or under construction.

SOURCE
National Grid Completes Acquisition of Leading Renewable Energy Developer



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