National Grid 2016 Annual Report Download - page 161

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32. Subsidiary undertakings, joint ventures and associates continued
Joint ventures
A list of the Group’s joint ventures as at 31 March 2016 is given below. All joint ventures are included in the Group’s financial statements using
the equity method of accounting. Principal joint ventures are identified in bold.
Incorporated in England and Wales
BritNed Development Limited (50%)
Joint Radio Company Limited (50%)
Nemo Link Limited (50%)
NGET/SPT Upgrades Limited (50%)
St William Homes LLP (50%)
Incorporated in the US
Clean Energy Generation LLC (50%)
Island Park Energy Center LLC (50%)
Islander East Pipeline Company, L.L.C. (50%)
LI Energy Storage System, LLC (50%)
LI Solar Generation LLC (50%)
Associates
A list of the Group’s associates as at 31 March 2016 is given below. All associates are included in the Group’s financial statements using the
equity method of accounting.
Incorporated in the US
Algonquin Gas Transmission LLC (20%)
Clean Line Energy Partners LLC (32%)
Connecticut Yankee Atomic Power Company (19.5%)
Direct Global Power, Inc. (26%)
Energis plc (33.06%)
Energy Impact Fund LP (33%)
Maine Yankee Atomic Power Company (24%)
Millennium Pipeline Company LLC (26.25%)
New York Transco LLC (28.3%)
Nysearch RMLD LLC (22.63%)
Yankee Atomic Electric Company (34.5%)
Incorporated in Belgium
Coreso SA (20%)
Our interests and activities are held or operated through the subsidiaries, joint arrangements or associates as disclosed above. These interests
and activities (and their branches) are established in – and subject to the laws and regulations of – these jurisdictions.
Financial Statements
159National Grid Annual Report and Accounts 2015/16 Financial Statements