National Grid, a British multinational electricity and gas utility company, acquired Geronimo Energy, a leading clean energy developer based in Minneapolis, for $100m. National Grid is also progressing an agreement to acquire a 51% share in 378MW of solar and wind generation projects developed by Geronimo (in operation and under construction) for $125m. The projects, which have long-term power purchase agreements in place, will be jointly owned by National Grid and Washington State Investment Board ('WSIB') and operated by National Grid. Once finalised, the joint venture with WSIB will have the right of first offer on future projects developed by Geronimo Energy. This investment is consistent with our long-term strategy of evolving the Group for the future.