National Grid to invest £60 billion in energy systems, plans major asset sales and equity raise.

National Grid plc (LON:NG) has announced plans to invest GBP 60 billion (USD 76.5bn/EUR 70.4bn) over the five-year period between March 2029, nearly doubling the previous five years. The utility, which operates in the UK and US, also plans to sell National Grid Renewables, its US onshore renewables business, and Grain LNG, its UK LNG asset. The move comes as National Grid continues to streamline its business and aligns with its strategy to focus on networks. Up to $ 35 billion (EUR 32.2bn) of the investment is intended for US energy system improvements in Massachusetts and New York. To fund the investment programme, National Grid has also announced a fully underwritten equity raise of GBP 7 billion through a rights issue.