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AVANGRID Announces Intent to Deploy More Than $30 Million in Solar Trackers From New Mexico Based Partner Array Technologies Inc.
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Rhea-AI Summary
AVANGRID has announced an investment of over $30 million to procure solar trackers from Array Technologies for its 321 MW True North solar farm in Falls County, Texas. The collaboration underscores AVANGRID's commitment to expanding clean energy and supporting local jobs. This facility is anticipated to be a significant contributor to decarbonization and is set for completion by the end of 2024. Currently, AVANGRID generates over 1,250 MW of renewable energy in Texas through six wind farms, with an additional 1,300 MW pipeline of projects. The firm's initiatives align with wider clean energy goals in the U.S.
Positive
Investment of over $30 million in solar trackers enhances clean energy capacity.
True North solar farm will generate 321 MW of renewable energy upon completion.
Collaboration with Array Technologies strengthens sustainable energy initiatives.
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Purchase will Allow AVANGRID to Construct a 321 MW Solar Array Farm in Texas and Further Boost the State’s Output of Clean Energy
ORANGE, Conn.--(BUSINESS WIRE)--
AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, has announced it will take a new step in its key partnership with the intent to deploy more than $30 million in solar trackers from Array Technologies (ATI), a New Mexico based company. The equipment will be used to construct AVANGRID’s 321 MW True North solar farm in Falls County, Texas, one of the company’s biggest solar facilities under development in the U.S., and will include safe harbor inventory and newly purchased trackers.
“With this collaboration with ATI, we reaffirm our ongoing commitment to New Mexico, supporting local jobs and expanding our clean energy vision,” said Ignacio Galan, Chairman of AVANGRID. “Partnering with renewable energy companies like ATI will allow us to support the green workforce industry while we continue to provide reliable and affordable energy to homes and businesses throughout the U.S.”
“We are very proud to announce this collaboration with Albuquerque, New Mexico based Array Technologies,” said Pedro Azagra, CEO of AVANGRID. “Projects like True North are crucial to decarbonization and will help the country reach its ambitious clean energy goals and help New Mexico grow industrial green energy jobs”.
“This is a true win-win that both supports our state’s economy and drives forward a clean energy future,” said New Mexico Governor Michelle Lujan Grisham.
Array Technologies is a long-standing supplier of AVANGRID and the Iberdrola Group, and this purchase is an additional step in a partnership that is expected to continue to grow, as AVANGRID expands its position as a leading sustainable energy company in the U.S. This agreement was vital to the final investment decision for the construction of the True North solar farm in Falls County, Texas, which is expected to be completed by the end of 2024 and will deliver 321 MW of clean, renewable energy to the state.
“Array is honored to supply our industry leading DuraTrack solar trackers to AVANGRID for the True North solar farm,” said Kevin Hostettler, Chief Executive Officer at Array Technologies. “Our durable and low maintenance trackers will help provide clean renewable energy for the Texas grid, ensuring the local community has reliable power for years to come.”
“I commend both Array Technologies and AVANGRID on their partnership and commitment to producing renewable energy not only in New Mexico, but throughout the U.S. We look forward to seeing more innovative projects between these two powerhouses”, said Tim Keller, mayor of Albuquerque.
Solar trackers are a key component of the construction of solar array farms, as they allow for the movement of the panel to adjust to the exact location of the sun to optimize the absorption of solar energy.
With the purchase of solar trackers from Array Technologies and with the development of projects like the True North solar farm, AVANGRID has further expanded the presence of clean energy in Texas, where it already generates more than 1,250 MW through six wind farms and has a 1,300 MW pipeline of projects.
Texas is one of the 24 states across the U.S. in which AVANGRID has onshore solar and wind generation facilities, delivering almost 8.5 GW of clean and renewable energy to the country, enough to power approximately 2.8 million homes.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, AVANGRID ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
