National Grid secures £360 million loan for UK gas distribution upgrade
The European Investment Bank (EIB) has signed a loan of £360 million ($590 million) to National Grid to support the company's investment programme for the upgrade and extension of its four gas distribution networks in the UK.
"The investment programme will have a positive impact on the security of the supply of energy in the UK and will help to ensure that gas will replace less efficient and more polluting sources of energy in domestic, commercial and industrial environments," says Simon Brooks, EIB vice president responsible for lending operations in the UK.
In 2008, 28% of EIB lending in the energy sector went to electricity grids and 21% to natural gas transport and storage infrastructures. Signatures for Trans
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