Avangrid Completes Module Installation at True North Solar project
Avangrid (NYSE: AGR) has completed module installation at its True North Solar project in Falls County, Texas, marking a significant milestone. The project, set to become Avangrid's largest solar installation, features over 488,000 solar modules and boasts a capacity of 238 MWac (321 MWdc). Commercial operation is expected by year-end, with the project supporting Meta's net zero commitment and its upcoming data center in Temple.
The construction phase created 350 peak jobs, mostly sourced locally, and will provide several permanent positions. Avangrid anticipates paying over $40 million in taxes throughout the project's lifespan. This development expands Avangrid's Texas renewable energy portfolio, which already includes more than 1,200 MW of installed wind capacity.
Avangrid (NYSE: AGR) ha completato l'installazione dei moduli nel suo progetto True North Solar a Falls County, Texas, segnando un traguardo significativo. Il progetto, che diventerà la più grande installazione solare di Avangrid, conta oltre 488.000 moduli solari e ha una capacità di 238 MWac (321 MWdc). Si prevede l'inizio delle operazioni commerciali entro la fine dell'anno, con il progetto a sostegno dell'impegno net-zero di Meta e del suo prossimo data center a Temple.
La fase di costruzione ha creato 350 posti di lavoro temporanei, per lo più provenienti da risorse locali, e fornirà diverse posizioni permanenti. Avangrid prevede di pagare oltre 40 milioni di dollari in tasse durante tutto il ciclo di vita del progetto. Questo sviluppo amplia il portafoglio di energia rinnovabile di Avangrid in Texas, che già include più di 1.200 MW di capacità eolica installata.
Avangrid (NYSE: AGR) ha completado la instalación de módulos en su proyecto True North Solar en Falls County, Texas, marcando un hito significativo. El proyecto, que se convertirá en la mayor instalación solar de Avangrid, cuenta con más de 488,000 módulos solares y tiene una capacidad de 238 MWac (321 MWdc). Se espera que la operación comercial comience a finales de año, con el proyecto respaldando el compromiso de carbono neutral de Meta y su próximo centro de datos en Temple.
La fase de construcción creó 350 empleos temporales, en su mayoría sourced localmente, y proporcionará varias posiciones permanentes. Avangrid anticipa pagar más de 40 millones de dólares en impuestos a lo largo de la vida útil del proyecto. Este desarrollo expande el portafolio de energía renovable de Avangrid en Texas, que ya incluye más de 1,200 MW de capacidad eólica instalada.
Avangrid (NYSE: AGR)는 텍사스 주 폴스 카운티의 True North Solar 프로젝트에서 모듈 설치를 완료하여 중요한 이정표를 세웠습니다. 이 프로젝트는 Avangrid의 가장 큰 태양광 설치가 될 것이며, 488,000개 이상의 태양광 모듈을 갖추고 있고 238 MWac (321 MWdc)의 용량을 자랑합니다. 상업 운영은 연말까지 시작될 것으로 예상됩니다, 이 프로젝트는 메타의 탄소 중립 약속과 템플에 위치할 데이터 센터를 지원합니다.
건설 단계에서 350개의 일자리가 창출되었으며, 대부분은 지역에서 모집되었습니다. Avangrid는 프로젝트 전체 기간 동안 4천만 달러 이상의 세금을 납부할 것으로 예상하고 있습니다. 이 개발은 Avangrid의 텍사스 재생 가능 에너지 포트폴리오를 확장하며, 이미 1,200 MW 이상의 설치된 풍력 용량을 포함합니다.
Avangrid (NYSE: AGR) a terminé l’installation des modules de son projet True North Solar dans le comté de Falls, au Texas, marquant ainsi une étape importante. Le projet, qui deviendra la plus grande installation solaire d'Avangrid, comprend plus de 488 000 modules solaires et a une capacité de 238 MWac (321 MWdc). Le début de l'exploitation commerciale est prévu d'ici la fin de l'année, ce projet soutenant l'engagement zéro carbone de Meta et son futur centre de données à Temple.
La phase de construction a créé 350 emplois temporaires, principalement issus de ressources locales, et fournira plusieurs postes permanents. Avangrid prévoit de payer plus de 40 millions de dollars en taxes tout au long de la durée de vie du projet. Ce développement élargit le portefeuille d'énergies renouvelables d'Avangrid au Texas, qui comprend déjà plus de 1 200 MW de capacité éolienne installée.
Avangrid (NYSE: AGR) hat die Modulinstallation in seinem True North Solar-Projekt im Falls County, Texas, abgeschlossen und damit einen bedeutenden Meilenstein erreicht. Das Projekt, das Avangrids größte Solaranlage werden soll, umfasst über 488.000 Solarmodule und hat eine Kapazität von 238 MWac (321 MWdc). Der kommerzielle Betrieb wird bis Ende des Jahres erwartet, wobei das Projekt das Netto-Null-Versprechen von Meta und das bevorstehende Rechenzentrum in Temple unterstützt.
Die Bauphase hat 350 Spitzenjobs geschaffen, die größtenteils lokal rekrutiert wurden, und wird mehrere unbefristete Stellen bieten. Avangrid erwartet, über 40 Millionen Dollar an Steuern während der gesamten Laufzeit des Projekts zu zahlen. Diese Entwicklung erweitert Avangrids Portfolio erneuerbarer Energien in Texas, das bereits mehr als 1.200 MW installierte Windkraftkapazität umfasst.
- Completed installation of 488,000+ solar modules ahead of schedule
- True North Solar will be Avangrid's largest solar project with 238 MWac capacity
- Project supports Meta's net zero commitment and upcoming data center
- Created 350 jobs during construction, with several permanent positions
- Expected to generate over $40 million in tax revenue over project lifespan
- None.
Insights
Avangrid's completion of module installation at the True North Solar project marks a significant milestone in its renewable energy portfolio expansion. The 238 MWac (321 MWdc) project in Texas represents a strategic move into the solar market, diversifying Avangrid's energy mix beyond its existing 1,200 MW of installed wind capacity in the state.
Financially, the project's impact is substantial. The expected
While specific financial figures aren't provided, the scale of the project (488,000 solar modules) and its status as Avangrid's largest solar project indicate a significant capital investment. Investors should monitor how this project affects Avangrid's financial performance, particularly its impact on revenue growth and operational expenses in the coming quarters.
The True North Solar project represents a significant leap in Avangrid's renewable energy strategy. With 488,000 solar modules installed, this 238 MWac (321 MWdc) project showcases Avangrid's ability to execute large-scale solar developments, complementing its existing wind portfolio in Texas.
The project's completion ahead of schedule demonstrates Avangrid's operational efficiency in the solar sector. This is important as it indicates the company's adaptability in diversifying its renewable energy portfolio beyond wind power. The dedicated operations and maintenance facility planned for the site suggests a long-term commitment to the project's performance and reliability.
The partnership with Meta to support their net zero commitment, particularly for the Temple data center, highlights the growing trend of corporate renewable energy procurement. This trend could open up more opportunities for Avangrid in the future, potentially leading to similar large-scale projects with other tech giants aiming to reduce their carbon footprint.
Avangrid's True North Solar project signifies a strategic market positioning in the rapidly growing Texas renewable energy sector. Texas leads the U.S. in wind power capacity and is quickly becoming a solar energy powerhouse. By diversifying into solar, Avangrid is tapping into this market trend, potentially enhancing its competitive edge.
The project's scale and the partnership with Meta demonstrate Avangrid's ability to secure high-profile clients in the corporate renewable energy market. This sector is experiencing significant growth as more companies commit to sustainability goals. The successful execution of this project could position Avangrid favorably for future corporate partnerships.
Investors should note the potential for market expansion. If Avangrid can replicate this success, it could lead to increased market share in the U.S. solar industry. However, it's important to monitor how Avangrid balances its wind and solar portfolios, as well as how it navigates the competitive landscape in Texas, which is known for its unique energy market structure.
More than 488,000 solar modules are now installed at True North, will become the largest solar project in Avangrid’s portfolio
“This is a major accomplishment and we are proud of the hardworking women and men who are bringing this clean energy project onto the
Avangrid continues to commission the True North and will soon begin building a dedicated operations and maintenance facility at the site. Commercial operation is expected at the end of the year.
True North will become the largest solar project in Avangrid’s portfolio and its first solar project in
Construction of True North has supported 350 jobs at the peak of work, with the majority of those jobs sourced locally. The project will support several permanent, high-paying jobs that will remain in the community for the life of the project. Avangrid expects to pay more than
Avangrid has successfully developed, built, and operated renewable energy projects in
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240826820483/en/
Keaton Thomas
Keaton.thomas@avangrid.com
503-956-9621
Source: AVANGRID, Inc.
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