Electricity and gas utility company National Grid Plc said on March 7 it agreed to buy U.S-based utility-scale wind and solar energy developer Geronimo Energy for at least $100 million.
National Grid said it was also progressing on an agreement to buy a 51% stake in 378 megawatts of solar and wind generation projects developed by Geronimo for $125 million.
The projects, which have long-term power purchase agreements in place, will be jointly owned by National Grid and Washington State Investment Board and operated by National Grid.
The project, which is a 495-megawatt storage system, is expected to be completed in May 2021.
With a busy first two months, 2019 is shaping up to by a big year for electrifying transportation.
Here’s a snapshot of energy deals from the past week including a $1.6 billion midstream deal in the Bakken and the closing of Encana’s multibillion-dollar acquisition of Newfield Exploration.