One of the biggest fundraisers in the UK this year just hit the market, with National Grid’s pitch to bring £7 billion in over the next five years to help fund its £60 billion energy transition investment plan. The new £60 billion plan is ambitious, with just over half of the investment being spent in the UK, and the rest going to National Grid’s US operations. The plan allows investors to buy seven new shares at a discount of roughly a third, for every 24 shares they already own.
Neil Shah, executive director of content and strategy at Edison Group, was very positive on the move, noting that the fundraiser showed “National Grid’s focus on the decarbonisation of energy system, while also working to deliver more jobs across both sides of the Atlantic”. “As pressure mounts to push for more renewable and sustainable solutions, it is natural that National Grid is pushing for additional investments,” he added.
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Source: i newspaper - 🏆 8. / 89 Read more »