The funds could be used to boost efficiency of the grid and help reduce electricity losses, finance clean transport infrastructure, such as the electrification of railways as well as support the connection infrastructure of wind farms to the grid.
Other potential areas cover environmentally sustainable management, such a substituting overhead lines for underground cables and pollution prevention and control.
The green bond is part of National Grid’s Green Financing Framework and the projects will be evaluated and chosen by its Green Financing Committee.
Alexandra Lewis, Group Treasurer for National Grid said, “We’re delighted our first green bond has been a success. The £430 million raised will be put towards financing electricity transmission projects that will help deliver cleaner energy across Great Britain. We’re pleased investors have shown a high level of support for our efforts with the clean energy transition and National Grid’s commitment to net zero.”