in News Departments > Projects & Contracts
print the content item

National Grid and Clean Line Energy Partners LLC have closed on National Grid's previously announced $40 million investment in Clean Line.

The investment was subject to various state and federal regulatory approvals, which have been obtained.

Under the terms of the transaction, Clean Line will use proceeds from the National Grid investment to advance the development of its four high-voltage direct-current (HVDC) transmission projects that will connect onshore wind energy resources in the midwestern U.S. to communities and cities with demand for low-cost clean energy.

Per the terms of the deal, National Grid will have the ability to acquire a significant ownership stake in Clean Line’s HVDC projects. The funds associated with ZBI Ventures and the Houston-based Zilkha family will maintain their existing equity stakes in the company.

Lazard acted as financial adviser 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.


IowaDeptEconDevel_id1863

Trachte Inc._id1770
Latest Top Stories

Smart Community Engagement: Twelve Tips Every Wind Developer Should Know

Community engagement helps ensure a project runs smoothly, but it can also save developers money and even lead to a more successful wind industry overall.


Bird Groups Target LEEDCo's Icebreaker Offshore Wind Pilot

Two bird conservation groups that helped halt a wind project earlier this year argue that Lake Erie Energy Development Corp.'s (LEEDCo) 18 MW offshore demo poses a major risk to regional wildlife.


Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.

Acciona_id1907
UEA_id1896
JLG_id1900
WomenofWind_id
bonfiglioli_id1913
AWEA_id1886