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.