National Grid completes acquisition of wind and solar energy developer
National Grid completed Monday its acquisition of Geronimo Energy, a leading wind and solar energy developer.
The $100 million deal, first announced in March, has met all regulatory requirements. Geronimo Energy has over 2,200 megawatts of wind and solar energy projects that are either operational or under construction.
“Today’s announcement underscores National Grid’s commitment to the decarbonization of our energy system. We believe in the long-term growth potential of renewable generation, driven by consumer demand and technological advances,” Badar Khan, president of National Grid Ventures, said.
Geronimo Energy has a track record of being farmer-friendly, community-driven and customer-focused, which aligns with National Grid’s core values. The company will continue to be headquartered in Minneapolis, with satellite offices and facilities located throughout the country.
“We’re very pleased to have officially joined the National Grid family today,” Blake Nixon, chief executive officer for Geronimo Energy, said. “With our joint expertise, we have an exciting opportunity to grow our project portfolio, expand upon our commitments to project host communities and landowners, and offer our customers increasingly high quality, competitive renewable generation.”
Also, National Grid entered into a joint venture agreement with Washington State Investment Board to acquire 379 megawatts of solar and wind generation projects from Geronimo Renewable Infrastructure Partners.
National Grid provides electricity, natural gas, and clean energy to more than 20 million people in New York, Massachusetts, and Rhode Island.
