National Grid Ventures (NGV) has signed an agreement to acquire Geronimo Energy, a leading developer of wind and solar generation assets based in Minneapolis, Minnesota.
Geronimo Energy is a renewable energy development company that provides custom renewable energy solutions for utilities and corporations looking to harness renewable energy for business growth.
The company has a strong track record; successfully developing 2.3GW of wind and solar generation projects since 2004 and has 6GW+ of projects in the pipeline at various stages of development.
The acquisition of Geronimo – along with its expert leadership team and 70+ experienced employees – will provide National Grid with a solid foundation on which to develop and grow a large-scale renewable business in the US, and deliver sustainable, affordable and reliable energy. It’s an important and exciting step toward future-proofing and strategically positioning us for the 21st century.
Blake Nixon, CEO of Geronimo, will continue to lead the business, reporting to Daniel Westerman, President Distributed Energy and Renewables, NGV.
This new acquisition continues our investment in clean energy. Geronimo will sit in NGV alongside our interconnector portfolio, which will reach 7.8GW of capacity by 2024; enabling UK customers to access lower cost, renewable energy. This is in addition to a growing portfolio of renewable generation across the US; including 30MW of solar currently in operation (with more under construction) and 40 MW of battery storage.
The acquisition process is expected to conclude in the second quarter of 2019, when Geronimo Energy will officially become a National Grid plc company.
To find out more, watch Badar Khan, President of NGV & Executive Vice President of Corporate Development, talk about the acquisition of Geronimo Energy.