NGG - National Grid JV gets $150M financing for U.S. renewable energy projects

National Grid ([[NGG]] +0.4%) says its Emerald Energy Venture joint venture secured a $150M portfolio revolving facility, with a potential increase to $250M beginning next year, to support the growth of its renewable energy portfolio in the U.S.National Grid says the new financing will support part of the construction of a mix of solar, battery storage and wind projects being developed by its competitive renewable energy arm.The company expects the facility will help fund part of the construction of 1.05 GW of clean energy generation capacity, enough to avoid more than 1.6M metric tons/year of carbon dioxide.The U.K. government reportedly plans to strip National Grid of its responsibility for running the country's electricity system in favor of a new independent body.

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National Grid JV gets $150M financing for U.S. renewable energy projects