wiredInUSA April 2019

Power purchase M A K I N G T H E NEWS

National Grid is to buy a Minneapolis- basedcleanenergyproject developer for $100 million. The deal to acquire Geronimo Energy will bolster National Grid’s renewable profile and was led by the utility’s competitive business unit, National Grid Ventures. Geronimo has developed over 2,200MW of wind and solar energy projects since its founding in 2004. “National Grid is committed to the evolution and decarbonization of our energy system. Renewable power, such as wind and solar generation, is a core component of the future energy system,” said Badar Khan, president of National Grid Ventures. Geronimo’s development portfolio already represents almost 10 percent of all wind generation developed in the American Midwest.

satellite development offices and operational project facilities located throughout the country. “We are very pleased to be joining National Grid, a leader in the industry that shares our corporate values and community focus,” said Blake Nixon, CEO of Geronimo Energy. “With National Grid’s expertise and capital strength, Geronimo will be able to better deliver … effective renewable energy solutions for our customers.” National Grid is also progressing with an agreement to acquire a 51 percent share in 378MW of solar and wind generation projects developed by Geronimo (in operation and under construction) for $125 million. National Grid Ventures operates in competitive markets outside National Grid’s core regulated units in the US and UK.

Geronimo’s team will continue to be headquartered in Minneapolis, with

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wiredInUSA - April 2019