NATIONAL GRID PLC (NGG) Form 6-K — Jul 1, 2026
National Grid Ventures (NGV) has agreed to invest $1.75 billion to acquire a 35% stake in Joulent LLC, a platform developing integrated power solutions for US large load customers like data centers. This strategic partnership aims to capitalize on the rapidly rising demand for reliable electricity driven by AI infrastructure and advanced industry. As part of the investment, NGV will partner with Chevron Corporation in a 50/50 joint venture to develop Project Kilby, a 2.67 GW co-located power facility in West Texas. The facility will provide dedicated electricity to a Microsoft-operated data center campus under a 20-year power purchase agreement, with first power delivery targeted for 2028.
Key figures
- Deal Value Usd
- 1750000000
- Ppa term years
- 20
- Kilby capacity gw
- 2.67
- Ownership percent
- 35
- Partnership ratio kilby
- 50/50
- First power delivery year
- 2028
- Data centre demand pipeline gw
- >10
AI analysis
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