National Grid plans to sell Grain LNG and National Grid Renewables – its US onshore renewables business – as part of a streamlined strategy focusing on networks.
The announcements came as National Grid outlined a £60bn investment plan under a new five-year financial framework in which it will focus on a becoming a ‘pure play networks business’, after reporting an underlying operating profit of £4.8bn in the year to March.
Chief Executive John Pettigrew said the plan will accelerate the decarbonisation of the energy system for the ‘digital, electrified economies of the future’.
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