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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  National Grid plc    NG.   GB00BDR05C01

NATIONAL GRID PLC

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National Grid : Underscores its Commitment to the Clean Energy Transition with Launch of National Grid Renewables

10/14/2020 | 10:05am EST
National Grid Underscores its Commitment to the Clean Energy Transition with Launch of National Grid Renewables Oct 14, 2020 - 10:00 AM

Waltham, MA and Minneapolis, MN (October 14, 2020) - National Grid, through its competitive, non-regulated National Grid Ventures unit, today announced the launch of National Grid Renewables, the new brand name for its US renewable energy business which includes solar, onshore wind and battery storage. National Grid Renewables is focused on accelerating the clean energy transition through developing, owning, and operating large-scale renewable energy assets across the United States.

'National Grid has a critical role to play in the acceleration of a cleaner energy future, which is why we're pleased to be launching National Grid Renewables to further underscore our commitment to reaching net-zero,' said Daniel Westerman, President, Renewable Energy for National Grid. 'In addition to being positive for our planet, developing new renewable energy projects creates jobs and spurs economic development in communities across America. We look forward to expanding our positive social and environmental impact as we look ahead, all while delivering strong shareholder value.'

This rollout builds on National Grid's acquisition of Geronimo Energy, a leading wind and solar developer in North America, in July 2019, further underscoring the company's commitment to decarbonizing the energy system. Since last year's acquisition, National Grid's onshore renewables development team (formerly known as Geronimo Energy) has signed over 500 megawatts (MW) of announced contracts with customers and has expanded its robust pipeline of wind, solar, and battery storage projects throughout the U.S. As part of today's launch, Geronimo Energy will transition to the new National Grid Renewables branding.

'The launch of the National Grid Renewables brand supports our goal to expand our onshore project portfolio nationwide and continue our growth as a leader in the renewable energy industry,' stated Blake Nixon, Head of US Onshore Renewables for National Grid Renewables. 'We are proud to take on the National Grid name, as our corporate values have always been and continue to be aligned. Our farmer-friendly, community-focused value set and guiding principle to do what is right for community members, customers, and partners remain the same.'

In addition to its onshore renewables development team, National Grid Renewables includes an increasing number of operational assets that are geographically diverse across the U.S., from wind and solar farms in the Midwest and South to investments in battery storage facilities on the East Coast.

It also has had a partnership dating back to 2016 with Sunrun, a leading residential solar, battery storage, and energy services company in the US, that has included a $100 million asset investment and employees from each company working to develop the potential of grid services using cleaner, renewable sources of energy.

For more information about National Grid Renewables, please visit www.nationalgridrenewables.com or follow us on Twitter and LinkedIn.

Media Contacts:

Justin Drake Lindsay Smith

National Grid Ventures National Grid Renewables

Justin.Drake@nationalgrid.comLindsay@nationalgridrenewables.com

781-375-5336 952-358-5672

About National Grid Renewables

National Grid Renewables, part of the competitive, unregulated National Grid Ventures division of National Grid (NYSE: NGG), develops, owns, and operates large-scale renewable energy assets across the United States, including solar, wind, and battery storage. As a farmer-friendly and community-focused business, National Grid Renewables develops projects for corporations and utilities that seek to repower America's electricity grid by reigniting local economies and reinvesting in a sustainable, clean energy future.

National Grid Renewables has a robust development pipeline of wind, solar, and battery storage projects in various stages of development throughout the United States, as well as geographically diverse operational assets across the country. It supports National Grid's vision of being at the heart of a clean, fair, and affordable energy future for all. Please visit www.nationalgridrenewables.com to learn more.

About National Grid

About National Grid: National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts, and Rhode Island. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions.

For more information, please visit our website, follow us on Twitter, watch us on YouTube, friend us on Facebook, and find our photos on Instagram.

Disclaimer

National Grid plc published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 14:04:01 UTC


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