National Grid Transco (NGG) has released an update.
National Grid PLC announced a major investment increase as part of its Full Year results, with plans to invest £60 billion over five years to March 2029, aimed at doubling its past investment levels and contributing to the energy transition in the UK and US. The company is also conducting a £7 billion equity raise and plans to sell its Grain LNG and National Grid Renewables businesses as part of a strategic shift to focus on networks. This investment is expected to drive annual asset growth of around 10%, create over 60,000 jobs, and significantly contribute to the decarbonisation of energy systems.
For further insights into NGG stock, check out TipRanks’ Stock Analysis page.
