in News Departments > Projects & Contracts
print the content item

National Grid, a major energy company that operates in the U.K., Massachusetts, New York and Rhode Island, has closed its previously announced $40 million investment in Clean Line Energy Partners LLC, a firm that is focused on high voltage direct current (HVDC) transmission projects to move renewable energy to market.

Under the terms of the transaction, Clean Line says it will use proceeds from the National Grid investment to advance the development of its four HVDC transmission projects that will connect onshore wind energy resources in the Midwest to communities and cities with demand for low-cost, clean power. Meanwhile, National Grid will have the ability to acquire a significant ownership stake in Clean Line's HVDC projects.

Lazard acted as financial advisor to Clean Line for this transaction. Grid America, a subsidiary of National Grid USA, will make the investment in Clean Line with corporate funds; the transaction is separate from National Grid’s existing regulated businesses in the U.S. and the U.K. The funds associated with ZBI Ventures and the Houston-based Zilkha family will maintain their existing equity stakes in the company.



Hse SandyHook
Latest Top Stories

Sensus Smart Meters Tied To More Overheating Incidents And Fires

SaskPower is investigating two new meter failures, and Portland General Electric is working to replace 70,000 Sensus units amid fire concerns.


SaskPower Halts Smart Meter Installations Following Fires

The Canadian utility has suspended its smart meter deployment as it investigates half a dozen fires associated with the meters.


New Study Underscores Value Of Customer Engagement, Ranks Most-Trusted U.S. Utilities

According to the report, which analyzes 125 utilities across the country, earning a customer's trust can lead to monetary gains.


Washington State Doles Out Cash For Utility Energy Storage Projects

Three utilities have been awarded millions of dollars in grants to explore energy storage technology that could help integrate renewable and improve the power grid.


Utilities Reveal Just How Much Customers Are Saving With Energy Efficiency Programs

Two U.S. utility companies have issued progress reports and solid numbers regarding their respective initiatives.

S&C Electric_id176
edf_id180