National Grid's $1.75 billion investment in U.S. integrated power solutions company Joulent makes strategic sense, Jefferies analyst Ahmed Farman writes. Joulent provides energy solutions for artificial-intelligence data centers. The deal gives the U.K. company exposure to the growing U.S. data-center sector and access to a multi-gigawatt pipeline, he adds. However, disclosure on the investment remains limited and the key project will only become free-cash-flow positive in the early 2030s, he writes. Shares fall 0.4% to 1,206.50 pence. (adam.whittaker@wsj.com)
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National Grid's Investment in U.S Energy Market Makes Strategic Sense — Market Talk
National Grid's $1.75 billion investment in U.S. integrated power solutions company Joulent makes strategic sense, Jefferies analyst Ahmed Farman writes. Joulent provides energy solutions for artificial-intelligence data centers. The deal gives the U.K. company exposure to the growing U.S. data-cen…