National Grid Ventures to pay $1.75bn for 35% of power developer Joulent

National Grid Ventures agreed on July 1 to invest $1.75bn for a 35% stake in Joulent. Joulent builds power for large-load customers, using co-located gas generation, battery storage, renewables and grid connections. Its lead project is Kilby, a 2.67GW plant in West Texas held 50/50 with Chevron and running on a 20-year power purchase agreement that supplies a data centre operated by Microsoft. First power is targeted for 2028. Turbines have been secured from GE Vernova. National Grid Ventures is the commercial arm of National Grid, which said it expects to connect more than 10GW of demand across the United Kingdom and the United States over the next five years. Reported by Shane Snider at Data Center Knowledge.