London-based National Grid says Clean Line’s portfolio of four HVDC projects is “compelling” and will help modernise America’s energy infrastructure.
Clean Line will use the proceeds from National Grid to advance the development of the four transmission projects.
Under the terms of the transaction, National Grid will have the ability to acquire a significant ownership stake in Clean Line's HVDC projects. ZBI Ventures and the Houston-based Zilkha family will maintain their existing equity stakes in Clean Line itself.
The
