National Grid

National Grid has agreed to buy 73 acres at Dorman Point, Teesside, to develop what could become Britain’s largest electricity substation and enable up to 3.2GW of capacity to serve a neighbouring proposed AI datacentre. The move follows planning applications for a nearly 500,000 sq metre AI campus and aims to attract major datacentre investment to the north-east by addressing power-availability bottlenecks. The project is seen as key to UK AI infrastructure but comes amid local and national opposition to rapid datacentre expansion. » More on theguardian.com

Bernstein reinstates National Grid with an "Outperform" rating and sees the company as a top pick among European network operators. Analysts expect around £70bn of investment through fiscal 2031 and an average annual growth of the regulated asset base of about 10%. Bernstein forecasts a nominal return on equity of 9–10%, a five-year total return of around 14%, and cites interest-rate, inflation and execution risks on UK and US projects as the main dangers. » More on de.investing.com

Bertrand Cliquet, portfolio manager of the roughly USD 12 billion Lazard Global Listed Infrastructure Portfolio, is betting against the AI hype in favor of infrastructure assets such as power grids, water utilities, toll roads and radio towers. Among the largest holdings is National Grid, which is pushing grid expansion to connect offshore wind and is operating efficiently in the US. Cliquet prefers regulated business models with predictable cash flows and allocates more than half the portfolio to European names like Ferrovial and VINCI, supplemented by tower operators American Tower and Crown Castle. Return prospects depend less on the AI cycle than on the path of interest rates and the pace of utilities' investment. » More on finanzen.net

National Grid will issue a total of 50,862,899 new ordinary shares for the final dividend 2025/26. Of these, 49,766,614 shares are at an issue price of 1,197.70 pence each; in the US, 219,257 ADRs will be issued at $80.5453 each (one ADR = five ordinary shares), equivalent to 1,096,285 ordinary shares. Admission to trading on the London Stock Exchange is expected on Wednesday, the dividend will also be paid on Wednesday; the shares will rank pari passu with the existing ordinary shares and have been applied to be included on the FCA’s official list. » More on de.investing.com

National Grid, through National Grid Ventures, has agreed a strategic minority investment of $1.75 billion in Joulent to support ongoing projects and the expansion of its project pipeline. National Grid will provide capital, energy management expertise and supply-chain capabilities. Joulent has formalized a 50 percent stake in its first project, Kilby; the project comprises about 2.67 GW of generation capacity under a 20-year PPA for a Microsoft data center campus and was developed with GE Vernova and Energy Forge (Chevron). » More on de.investing.com