National Grid JV Emerald gains $150M credit for future solar, wind & energy storage investment

By rodw A joint venture owned by utility giant National Grid has secured $150 million in new credit to help grow its renewable energy investment over the coming years.

Emerald Energy Venture LLC secured its $150 million portfolio revolving facility structured by SMBC, which is also lead arranger and agent. The portfolio revolver can be expanded to $250 million midway through next year.

The new credit will allow National Grid’s EEV to fund construction of solar, battery storage and wind projects currently under development by National Grid Renewables, the utility holding company’s competitive renewable energy arm.

“Adding more renewable energy to the grid is just

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