{"id":75811,"date":"2026-07-03T13:02:19","date_gmt":"2026-07-03T13:02:19","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/75811\/"},"modified":"2026-07-03T13:02:19","modified_gmt":"2026-07-03T13:02:19","slug":"national-grid-lseng-is-putting-1-75-billion-into-u-s-data-center-power-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/75811\/","title":{"rendered":"National Grid (LSE:NG) Is Putting $1.75 Billion Into U.S. Data Center Power"},"content":{"rendered":"\n

Find winning stocks<\/a> in any market cycle. Join 7 million investors using Simply Wall St’s investing ideas for FREE. <\/p>\n

National Grid (LSE:NG) is committing $1.75b for a major stake in Joulent LLC. <\/p>\n

The partnership focuses on delivering power solutions for large U.S. data centers and AI infrastructure. <\/p>\n

The plan includes a 2.67 GW power facility in Texas designed to support Microsoft’s long-term energy needs. <\/p>\n

The deal expands National Grid’s U.S. footprint and exposure to digital infrastructure demand. <\/p>\n

For investors watching National Grid, this move deepens the company’s role in U.S. electricity infrastructure while aligning with growing power needs from data centers and AI projects. The Joulent partnership connects a regulated utility business model with long-dated infrastructure demand from one of the largest technology customers, Microsoft. <\/p>\n

The scale of the 2.67 GW Texas project and the long-term nature of data center power contracts may influence how National Grid frames opportunities in the U.S. market. The Joulent stake also gives the company a platform that could be used for future projects serving digital infrastructure customers if similar opportunities arise. <\/p>\n

Stay updated on the most important news stories for National Grid<\/a> by adding it to your watchlist<\/a> or portfolio<\/a>. Alternatively, explore our Community<\/a> to discover new perspectives on National Grid. <\/p>\n

\"LSE:NG.<\/a> LSE:NG. Earnings & Revenue Growth as at Jul 2026 <\/p>\n

4 things going right for National Grid that this headline doesn’t cover.<\/a> <\/p>\n

For National Grid, the Joulent investment shifts part of its U.S. exposure toward large-load customers that sit outside traditional regulated networks. The 2.67 GW Project Kilby tied to a long-term power purchase agreement with Microsoft introduces contract-backed revenues that differ from regulated rate cases, and may diversify the mix of cash flow drivers within National Grid Ventures. Proximity to natural gas supply in Texas and links to Chevron indicate that fuel availability and infrastructure sit at the core of the project, which could be important for reliability expectations from data center and AI operators. <\/p>\n

How This Fits Into The National Grid Narrative <\/p>\n

This move lines up with the existing narrative that National Grid is ramping up capital investment in critical infrastructure and seeking long-term earnings resilience from large asset bases. <\/p>\n

The focus on very large, single-site power users could challenge assumptions in the narrative about project delivery risk and regulatory-style stability, because returns here depend more on contract structure and execution than on regulated frameworks. <\/p>\n

The dedicated data center and AI focus, and the specific partnership structure with Joulent and Chevron, may not be fully reflected in earlier discussions that center on broader grid upgrades in the U.K. and U.S. <\/p>\n

Story Continues <\/p>\n

Knowing what a company is worth starts with understanding its story.Check out one of the top narratives in the Simply Wall St Community for National Grid<\/a> to help decide what it’s worth to you. <\/p>\n

The Risks and Rewards Investors Should Consider <\/p>\n

\u26a0\ufe0f Execution and cost overruns on a single 2.67 GW project could pressure returns if timelines slip or capex runs ahead of expectations. <\/p>\n

\u26a0\ufe0f Analysts have flagged balance sheet pressure and debt coverage as a risk, and a US$1.75b outlay for Joulent adds to capital commitments that need to be funded and integrated with existing projects. <\/p>\n

\ud83c\udf81 Long-term contracted demand from a large customer like Microsoft could provide cash flow visibility that complements National Grid’s regulated earnings profile. <\/p>\n

\ud83c\udf81 Early positioning in power solutions for data centers and AI infrastructure may help National Grid compete with other large utilities such as Duke Energy, NextEra Energy or Southern Company that are also targeting large-load customers. <\/p>\n

What To Watch Going Forward <\/p>\n

Investors should watch how National Grid structures returns from the Joulent stake, including visibility on contracted revenues, capital spending phasing and the treatment of this investment alongside regulated assets. Progress on permitting, construction milestones and fuel supply arrangements for Project Kilby will be key signals of execution risk. It is also worth tracking whether this partnership becomes a template for further U.S. data center projects or remains a one off, as well as how rating agencies and regulators view the additional exposure to merchant or contract-based infrastructure. <\/p>\n

To ensure you’re always in the loop on how the latest news impacts the investment narrative for National Grid, head to the community page for National Grid<\/a> to never miss an update on the top community narratives. <\/p>\n

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. <\/p>\n

Companies discussed in this article include NG.L<\/a>. <\/p>\n

Have feedback on this article? Concerned about the content? Get in touch<\/a> with us directly. Alternatively, email editorial-team@simplywallst.com<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St’s investing ideas for…\n","protected":false},"author":2,"featured_media":75770,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21249],"tags":[2099,375,1968,2580],"class_list":["post-75811","post","type-post","status-publish","format-standard","has-post-thumbnail","category-national-grid","tag-data-centers","tag-infrastructure","tag-microsoft","tag-national-grid"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116856182760881641","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/75811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=75811"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/75811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/75770"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=75811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=75811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=75811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}