UK’s National Grid ventures into US offshore wind

UK-listed National Grid has partnered with Germany-based utility company RWE to develop offshore wind projects in the US, National Grid revealed in its full-year results last week.

National Grid Ventures, the company’s investment arm, has signed a JV agreement with RWE Renewables to develop offshore wind projects in the coastal region of the Northeast US.

NGV and RWE will work together to explore opportunities in the US offshore wind market, with the eventual aim of bidding together in a future federal seabed lease auction.

National Grid Chief Executive John Pettigrew said that “as the US offshore wind market is opening up, we see this as a perfect opportunity”.

National Grid had already bought renewables developer Geronimo Energy in 2019, giving it an interest in US onshore wind.