NGG - National Grid RWE Renewables team up to develop offshore wind projects

National Grid (NGG) and RWE Renewables, or RWE, signs a partnership agreement to jointly develop offshore wind projects in the coastal region of the Northeast U.S.Under the agreement, National Grid Ventures, the non-regulated division of National Grid, and RWE will be working together to explore opportunities in the Northeast U.S. offshore wind market, inclusive of its intention to jointly bid in the upcoming New York Bight seabed lease auction.Both parties aim to achieve a common goal of enabling the clean energy future, and offshore wind will be critical for the U.S., particularly in the Northeast, to reduce emissions, meet climate goals and create local jobs.Pursuant to the partnership, both companies will help drive forward the emerging offshore wind industry in the U.S. and help bring critical economic development to communities across the Northeast.Shares are up 0.88% PM.

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National Grid, RWE Renewables team up to develop offshore wind projects