- National Grid Ventures
- Who we are
- What we do
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National Grid Ventures is at the forefront of the energy transition. We operate in competitive energy markets across the UK and US, developing, operating, and investing in large-scale clean energy infrastructure to accelerate society’s drive towards net zero while at the same time helping to maintain security of supply today.
We operate separately from National Grid plc’s core regulated business, building a diverse and complementary portfolio of businesses that work together to keep the lights on, decarbonise the economy and create a clean energy future.
Our portfolio includes subsea electricity interconnectors, wind and solar power projects, competitive electricity transmission, liquefied natural gas, and battery storage. We’re also investing in emerging technologies such as hydrogen that will play a key role in decarbonisation.
Above all, we are a team of passionate, purpose-driven people committed to making a difference today and for future generations by transforming the way that energy is produced and consumed.
NGV’s portfolio of electricity interconnectors allow zero-carbon electricity to flow efficiently between markets. They provide valuable flexibility for countries to import or export clean energy over long distances via sub-sea and land cables at the flick of a switch, strengthening security of supply and supporting affordability for consumers.
By 2030 National Grid’s interconnectors will provide enough energy to power nine million homes.
Between 2020 and 2030, we expect our interconnectors will have helped the UK to avoid around 100 million tonnes of carbon emissions – equivalent to taking 2 million petrol cars off the road.
We are developing Multi-Purpose Interconnectors (MPIs) which combine interconnector and offshore wind technologies in a smarter way. MPIs will enable large volumes of offshore wind to be simultaneously connected to the transmission network in Great Britain and its neighbours cheaply and quickly, while minimising onshore connections and disruption to coastal communities.
The Committee on Climate Change estimates that at least 75 GW of offshore wind will need to be connected to meet the UK’s net zero target by 2050 – almost 10 times what Britain has operational today.
National Grid is supporting the development of offshore wind in the Northeast US through Community Offshore Wind, a joint venture between National Grid and RWE Renewables. Expected to be in operation towards the end of the decade, it will have a capacity of around 3GW, enough to power more than 1 million US homes.
The area of seabed awarded to Community Offshore Wind is the largest in the New York Bight offshore wind lease sale.
In the United States we are developing and operating the large-scale infrastructure that moves renewable energy from where it is produced to where it is needed most. We part-own the NY Transco joint venture that is leading multiple transmission projects in New York State to strengthen security of supply and facilitate the growth of renewables.
The New York Energy Solution project will modernise a 55-mile stretch of transmission infrastructure, improving resilience and allowing more clean energy to flow from upstate New York.
Through our National Grid Renewables business, we develop, build, own and operate competitive, high-performance renewable energy projects across the United States including solar, wind and energy storage assets that are helping society move towards net zero.
Our portfolio of wind, solar and energy storage projects either in operation or under construction generates 1,298 MW of clean electricity – the electrical equivalent of around 413,000 homes’ annual electricity usage.
We are deploying battery storage systems that work hand-in-hand with renewable energy sources to provide reliable energy at all hours of the day. In the US, we have partnered with NextEra Energy Resources to develop battery storage systems that help parts of Long Island to meet extra demand in the busy summer months, while also reducing emissions.
We have developed two 5 MW, 40 MWh battery storage systems in East Hampton and Montauk, NY.
Hydrogen has the potential to play a major role in the decarbonisation of industry and we are involved in projects that support the development of a hydrogen economy both in the UK and the US. These include a proposed ‘hydrogen hub’ on Long Island in the Northeastern US and our involvement in Blue Hydrogen in the Southeast of England, which aims to deliver low-carbon hydrogen with capture and storage of CO2 by 2026.
By 2026 Hydrogen in the Southeast of England will aim to capture and store 1.2 million tonnes of CO2 a year and produce 700 MW of blue hydrogen annually.
We operate the world-class Grain LNG terminal in Kent, the largest LNG terminal in Europe. Grain LNG gives the UK access to more diverse supplies of natural gas from around the world, which is crucial in strengthening security of gas supply and it provides 40% of the UK’s LNG import capacity.
Grain LNG’s current capacity is 645 GWh/day, enough to meet 25% of the UK’s gas demand
Through National Grid Generation (GENCO) we safely and efficiently operate conventional generation plant that is vital to security of supply in the Northeastern United States and keeps the lights on for 2 million people on Long Island.
We’re also exploring how we can leverage existing generation sites on Long Island to deploy new and emerging technologies from energy storage to zero carbon power generation from green hydrogen.
Our generation fleet has a capacity of almost 4 GW, which is about 65% of the peak generating capacity on Long Island.
Land and Property adds value to National Grid’s land and property assets and enables supports the business through safe, effective and efficient property services and solutions. Bringing insights to customers and stakeholders, we manage over 3,000 hectares of operational land and the access to ensure National Grid can safely and efficiently maintain over 4,500 miles of overhead line, around 900 miles of underground cable and associated assets.
We are regenerating over 180 surplus industrial sites in England and Wales and delivering on longer-term sustainability and social purpose commitments.