May 15 (Reuters) - National Grid beat annual

profit estimates on Thursday, driven by strong earnings from its

UK electricity transmission and New York businesses, and said it

remains on track to invest 60 billion pounds($79.74 billion) in

energy networks through March 2029.

However, it booked a 303 million pound ($402.7 million)

impairment charge as the company and Germany's RWE

paused development of a New York offshore wind project after

moves against the industry by U.S. President Donald Trump's

administration.

"Given current market conditions and increased

uncertainty on the development timeline of Community Offshore

Wind... we have reduced the scope of our development activities

until there is greater certainty," the company said in a

statement.

National Grid

reported adjusted operating profit of

5.36 billion

pounds for the year ended March 31, compared with

5.29 billion

pounds expected by 12 analysts in a company-compiled poll.

($1 = 0.7524 pounds)