National Grid Transco (NGG) has released an update.
National Grid is experiencing a significant growth phase, reporting a 14% increase in underlying operating profit to £2.0 billion and an impressive capital investment of £4.6 billion in the first half of 2024. The company successfully completed a £7 billion equity raise to support its ambitious £60 billion investment plan over the next five years, focusing on major transmission projects in the UK and the US. This strategy aims to enhance shareholder value through high-quality asset growth and a stable dividend, while playing a pivotal role in the energy transition.
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