National Grid taps shareholders to help fund £60bn low-carbon energy switch
by Alex Lawson from on (#6N0N4)
Infrastructure firm raises 6.8bn to connect homes to renewable energy sources across US and UK
National Grid has tapped shareholders for nearly 7bn to fund a 60bn spending spree to upgrade its networks to cope with the switch to low-carbon energy on either side of the Atlantic.
The energy infrastructure company announced a 6.8bn rights issue - where existing shareholders are offered new shares - to provide fresh funds for investment in thousands of miles of cables to connect homes with renewable energy projects in the UK and the US.
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