National Grid Invests $1.75B for 35% Stake in Joulent LLC on July 1

According to Bloomberg, on July 1, National Grid Plc, the London-listed power utility, invested $1.75 billion to acquire a 35% stake in Joulent LLC. Joulent is partnering with Chevron to develop a natural gas power facility in Texas for Microsoft. The transaction values the private company at $5 billion and expands National Grid's presence from the U.S. Northeast to one of America's hottest energy markets amid rising demand from data center expansion.
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