National Grid PLC reports news as a regulated electricity and gas utility group with an ADR traded under NGG. The company owns and operates the high-voltage electricity transmission network in England and Wales, the U.K.'s largest electricity distribution network, and utility operations serving customers in New York and Massachusetts.
Recurring developments include grid modernization, resilience planning, wildfire-risk analytics, energy efficiency programs, virtual power plant participation, large-load interconnection capacity, customer-service and billing technology, and venture activity through National Grid Partners. Updates also cover community programs and operating initiatives tied to electricity transmission, distribution, gas service, and the energy transition.
Niagara Mohawk Power Corp., an indirect subsidiary of National Grid, has declared dividends on preferred stock for the period from January 1 to March 31, 2021. The rates are: 0.85% for the 3.40% Series, 0.90% for the 3.60% Series, and 0.975% for the 3.90% Series. Dividends are payable on March 31, 2021, to shareholders on record as of March 17, 2021. National Grid provides service to approximately 1.6 million electricity customers and 565,000 natural gas customers in upstate New York.
Niagara Mohawk Power Corp., a subsidiary of National Grid, announced preferred stock dividends for Q4 2020. Dividends include: 0.85% on 3.40% Series, 0.90% on 3.60% Series, and 0.975% on 3.90% Series, all based on a $100 par value. These payments are set for December 31, 2020, for shareholders on record by December 17, 2020. The Company serves 1.6 million electric and 565,000 gas customers in upstate New York.
National Grid has launched National Grid Renewables, its new brand for US renewable energy operations, emphasizing its commitment to accelerating the clean energy transition. This initiative follows the acquisition of Geronimo Energy in July 2019, aiming to develop large-scale renewable assets including solar and wind projects. As of now, the company has signed over 500 megawatts of contracts with customers and aims to boost job creation and community economic development. The brand supports National Grid's vision of a net zero energy future and includes a partnership with Sunrun for developing grid services.
On August 13, 2020, Geronimo Energy announced the establishment of the Crocker Community Fund Board to support local communities connected to the 200 MW Crocker Wind Farm in Clark County, SD. This initiative is part of American Wind Week and aims to provide approximately $800,000 in charitable funding over 20 years, with annual contributions of $40,000. The wind farm is expected to generate $18 million in new tax revenue and $24 million in landowner payments. Geronimo has committed over $9.6 million in Community Funds across the nation to date.
Niagara Mohawk Power Corp., a subsidiary of National Grid, declared dividends for preferred stock for the period from July 1, 2020, to September 30, 2020. The rates are: 0.85% on the $100 par value, 3.40% Series; 0.90% on the $100 par value, 3.60% Series; and 0.975% on the $100 par value, 3.90% Series. The dividends will be payable on September 30, 2020, to shareholders of record as of September 16, 2020. National Grid serves 1.6 million electricity and 565,000 natural gas customers in upstate New York.
Geronimo Energy celebrates the operational success of the 194 MW Green River Wind Farm in Illinois. Starting construction in June 2018, the project now generates economic benefits, including $35 million in tax revenue and $20 million in landowner payments over 20 years. The facility has created 11 permanent jobs and supports local education with an estimated $650,000 revenue boost for two school districts. Collaborations with companies like Apple and Akamai enhance access to renewable energy. The Green River Community Fund will distribute $776,000 over 20 years for local charities.