Avangrid Finishes Installing 105,000 Solar Modules at California Clean Energy Project

Rhea-AI Summary

Avangrid (NYSE: AGR) has completed installing 105,000 solar modules at its Camino Solar project in California. The 44 MWac (57 MWdc) facility will generate enough energy to power approximately 14,000 homes. The project has created about 100 local jobs during construction and is expected to generate $15 million in state and local taxes over its lifetime. Located adjacent to Avangrid's 189 MW Manzana wind farm, Camino Solar will be the company's tenth solar project and first in California. The project spans private land and over 200 acres of public lands managed by the U.S. Bureau of Land Management. Final construction phases, including electrical work and commissioning, are ongoing before grid production begins next year.

Positive

• Project will generate $15 million in state and local taxes over its lifetime
• Created 100 local construction jobs
• Expands company's renewable portfolio with 44 MWac capacity addition
• Strategic location next to existing Manzana wind farm infrastructure

Negative

• None.

Insights

Energy Infrastructure Analyst

The completion of solar module installation at Camino Solar marks a significant milestone in Avangrid's renewable energy portfolio expansion. The $15 million expected tax revenue and 100 local jobs demonstrate meaningful economic impact. The 44 MWac capacity addition, while modest compared to Avangrid's 9 GW total installed capacity, strategically diversifies their California presence beyond wind power.

The co-location with the existing Manzana wind farm creates operational synergies and efficient land use. This hybrid approach optimizes transmission infrastructure and could improve overall power generation profile. The project's completion timeline aligns with California's aggressive renewable energy goals, potentially positioning Avangrid for additional state-level opportunities.

Market Research Analyst

This project represents Avangrid's strategic expansion in the California renewable energy market, complementing their existing $88 million tax-generating wind portfolio. While relatively small in scale, the project demonstrates effective execution in a key growth market and diversifies revenue streams. The public-private land use arrangement shows adept navigation of regulatory frameworks, important for future developments.

The project's completion positions AGR to capitalize on California's robust renewable energy demand and supportive regulatory environment. The successful track record in wind projects, combined with this new solar capability, enhances their competitive position for future renewable energy contracts in the state.

Construction of Camino Solar has generated about 100 jobs

With a capacity of 44 MWac (57 MWdc), Camino will generate the same amount of energy used by about 14,000 homes

KERN COUNTY, Calif.--(BUSINESS WIRE)-- Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced that it has installed the final solar modules at its Camino Solar project in California. The Company installed about 105,000 modules over the past four months.

“This is great progress for our first solar energy project in California, and I am happy to see us move into the next phase of construction,” said Pedro Azagra, Avangrid CEO. “Projects like this are important economic drivers in their local communities, bringing jobs and generating tax revenue that wouldn’t be there otherwise. Of course, Camino adds to our growing fleet of renewable energy projects that are key to fighting climate change and accelerating the energy transition.”

Camino will have a capacity of 44 MWac (57 MWdc) and is expected to generate the same amount of energy consumed by about 14,000 average U.S. homes. Construction is generating about 100 jobs, nearly all of them filled locally. The project is expected to generate about $15 million in state and local taxes during its lifetime.

While module installation is complete, Avangrid continues to work on other parts of the project, including work on collector systems, electrical wiring, and commissioning activities prior to production on the grid expected next year.

Camino is being constructed next to Avangrid’s 189 MW Manzana wind farm, which was built in 2012. The project is located on a combination of private land and more than 200 acres of public lands managed by the U.S. Bureau of Land Management.

When construction is completed, Camino will become the tenth solar project in Avangrid’s portfolio of projects and its first in California.

Avangrid has six other wind energy projects in California, ranging from San Diego County to the Bay Area, with a combined operating capacity of over 500 MW. These wind farms have generated a combined $88 million in property taxes as of the end of last year, supporting a variety of local public services. The Company has over 9 GW of installed capacity in its fleet of projects spread across nearly half the United States.

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $45 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2024 for the fourth consecutive year. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241030880060/en/

Media:

Keaton Thomas

Keaton.thomas@avangrid.com

503-956-9621

Source: AVANGRID, Inc.

FAQ

What is the capacity of Avangrid's (AGR) Camino Solar project in California?

Avangrid's Camino Solar project has a capacity of 44 MWac (57 MWdc) and will generate enough energy to power approximately 14,000 average U.S. homes.

How many solar modules were installed at Avangrid's (AGR) Camino Solar project?

Avangrid installed approximately 105,000 solar modules at the Camino Solar project over a four-month period.

When will Avangrid's (AGR) Camino Solar project begin producing power?

The Camino Solar project is expected to begin production on the grid next year, following completion of collector systems, electrical wiring, and commissioning activities.

How much tax revenue will Avangrid's (AGR) Camino Solar project generate?

The Camino Solar project is expected to generate approximately $15 million in state and local taxes during its lifetime.