Published: 16 July 2019 16 July 2019
National Grid, through its competitive non-regulated unit National Grid Ventures (NGV), has completed its US$ 100 million acquisition of Geronimo Energy. The deal, which was announced on March 7th, 2019, has now satisfied all regulatory requirements and closing conditions.
National Grid has also entered into a joint venture agreement with Washington State Investment Board (WSIB). National Grid contributed approximately US$ 125 million for a 51% controlling share in the joint venture which acquired 379MW of solar and wind generation projects from Geronimo Renewable Infrastructure Partners. Founded in 2004, Geronimo Energy has developed over 2,200MW of wind and solar energy projects that are operational or currently under construction. Geronimo Energy will continue to be headquartered in Minneapolis, with satellite development offices and operational project facilities located throughout the country.