National Grid Ventures has completed a $100m acquisition of US renewables developer Geronimo Energy.
The deal, which was first announced in March, has satisfied all regulatory requirements and closing conditions, National Grid Ventures said.
Geronimo Energy was founded in 2004 and has developed over 2.2GW of wind and solar projects that are operational or currently under construction.
The company also has a pipeline of projects in various stages of development throughout the US.
It will continue to be headquartered in Minneapolis, with other offices and operational project facilities located throughout the country.
Geronimo Energy chief executive Blake Nixon said: “We’re very pleased to have officially joined the National Grid family today.
“With our joint expertise, we have an exciting opportunity to grow our project portfolio, expand upon our commitments to project host communities and landowners, and offer our customers increasingly high quality, competitive renewable generation.”
National Grid Ventures president Badar Khan said: “Today’s announcement underscores National Grid’s commitment to the decarbonization of our energy system.
“We believe in the long-term growth potential of renewable generation, driven by consumer demand and technological advances.”
National Grid has also entered into a joint venture agreement with Washington State Investment Board.
National Grid paid $125m for a 51% controlling share in the JV, which acquired 379MW of solar and wind generation projects from Geronimo Renewable Infrastructure Partners.