Quinbrook Closes £120m Milestone Project Financing for Five Synchronous Condenser Projects [Yahoo! Finance]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
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Source: Yahoo! Finance
LONDON, April 25, 2024 BUSINESS WIRE Quinbrook Infrastructure Partners ("Quinbrook"), a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition, today announced it has closed £120 million in new debt financing for a portfolio of five synchronous condenser projects. This is the first portfolio financing of synchronous condensers that were awarded contracts in Phases I and II of National Grid's Stability Pathfinder Programme. "Grid stability is a critical necessity for achieving a secure transition to a decarbonised power system and synchronous condensers are an innovative solution to address fundamental system needs," said Keith Gains, Managing Director and UK regional lead for Quinbrook. "Quinbrook has assembled the largest privately owned portfolio of synchronous condensers located across the UK that will allow National Grid to control system frequency and maintain grid stability as more renewables capacity is added to the UK
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