International investors have struck deals worth £7 billion for UK’s energy infrastructure, as the government gears up to announce its energy security strategy
National Grid will receive £2.2 billion in cash, as well as a further £2 billion from debt financing. National Grid said the combined £4.2 billion proceeds from the deal will be used to pay off debts relating to the financing of its 2021 acquisition of WPD, the UK’s largest electricity distribution business, as the company seeks to move away from its gas operations and focus on renewables. It plans to invest £35 billion in energy infrastructure over the next 5 years.
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