Avangrid Foundation Awards $135,000 to Habitat for Humanity to Build Stronger Communities

Rhea-AI Summary

The Avangrid Foundation has awarded a $135,000 grant to Habitat for Humanity, advancing their longstanding partnership to support sustainable community development. This grant will aid over 10 local Habitat partners in New York, Maine, Connecticut, Oregon, and across the U.S. Since 2018, Avangrid has contributed more than $875,000 to Habitat for Humanity. The funds support housing construction, repairs, playhouse builds, and ReStores. Avangrid employees also contribute through volunteer work, including hosting 19 build days and dedicating 700 volunteer hours last year. This partnership fosters community development, economic stability, and social equity.

Positive

• Avangrid Foundation awarded a $135,000 grant to Habitat for Humanity.
• Since 2018, Avangrid has contributed over $875,000 to Habitat for Humanity.
• Funds will support over 10 local Habitat partners in multiple states.
• The partnership promotes community development, economic stability, and social equity.
• Avangrid employees hosted 19 build days and dedicated 700 hours of volunteering last year.

Negative

• The press release lacks specific financial returns or business impact data related to the grant.
• No direct correlation between grant donation and stock performance or shareholder value is provided.

Funds will support local Habitats within Avangrid service areas, such as Greater Rochester, Greater Portland, Portland Region, and Greater New Haven

Brings the Avangrid Foundation’s total grants to Habitat for Humanity to more than $875,000 since 2018

ORANGE, Conn.--(BUSINESS WIRE)-- The Avangrid Foundation, the primary philanthropic arm of leading sustainable energy company Avangrid, Inc. (NYSE: AGR), has announced a $135,000 grant to Habitat for Humanity, continuing Avangrid’s longtime partnership with the organization. The funds will directly support the efforts of more than 10 local Habitat partners within Avangrid’s service areas in New York, Maine, Connecticut, Oregon, and across the United States.

“We believe in building more sustainable communities and investing in a positive social impact,” said Pedro Azagra, Avangrid CEO. “Habitat for Humanity has proven that their work transforms lives and communities. By supporting Habitat for Humanity, we’re investing in more than just housing. We’re contributing to the foundation of community development, economic stability and social equity.”

The Avangrid Foundation began a partnership with the national Habitat for Humanity in 2019, advancing the legacy of its subsidiaries which had been involved with their local Habitat partners for years through volunteering and corporate donations. Since 2018, the Avangrid Foundation has contributed more than $875,000 in grants to Habitat for Humanity to support home construction and repairs, playhouse builds, and ReStore support.

“Habitat for Humanity is a great partner not only because they do impactful work, but also because they touch so many of the communities where our teams live and work,” said Pablo Colón, director of corporate citizenship and executive director of the Avangrid Foundation. “Safe and affordable housing is critical to combating poverty and helping families live their full potential. We are so proud to support our fellow community members in achieving their dream of home ownership.”

Last year, Avangrid employees hosted 19 build days within their communities and dedicated 700 hours of volunteering. The company is continuing that commitment this year. Recently, Rochester Gas and Electric (RG&E) employees in Rochester, New York celebrated Arbor Day by planting trees outside homes newly built by Greater Rochester Habitat for Humanity. This effort builds on RG&E’s support of the local Habitat partner within the last year, which included employees volunteering more than 150 hours at three build days to help construct a home sponsored by the Avangrid Foundation for a Rochester-area family.

"From the foundation to the roof, and every nail and tree planted in between, Avangrid’s generosity and dedication have built more than just a house at 344 Garson Ave in the Emma/Beechwood neighborhood,” commented Laurie Streber, Director of Development and Marketing, Greater Rochester Habitat for Humanity. “Their hands-on involvement during the house construction and their presence at the Dedication speaks volumes of their ongoing commitment to making a difference. Avangrid continues to be a cornerstone of positive change in our community."

In Portland, Oregon, employees recently helped Habitat for Humanity Portland Region build and decorate a custom playhouse for a local child going through a life-altering loss in their family. The custom design was created based on the child’s interests and featured unicorns.

“We always know it is going to be a great day when we have Avangrid employees coming out to volunteer. Not only are they huge supporters, but they are also incredibly enthusiastic and fun to work with. They really love putting in the sweat and hard work to support their community partners,” said Tor Ostrom, Senior Business Engagement Officer, Habitat for Humanity Portland Region.

About Avangrid Foundation: The Avangrid Foundation is an independent, nonprofit organization that funds philanthropic investments that primarily impact communities where Avangrid, Inc. and its subsidiaries operate. Since 2001, the Avangrid Foundation and its predecessors have invested more than $38.9 million in partnerships that focus on building sustainable, vital and healthy communities; preserving cultural and artistic heritage; advancing education; and improving people’s lives. The Avangrid Foundation is committed to advancing the United Nations Sustainable Development Goals in the United States. For more information, please visit www.avangridfoundation.org.

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/20240531484084/en/

Media:

Sarah Warren

sarah.warren@avangrid.com

585-794-9253

Source: AVANGRID

FAQ

What recent grant did Avangrid Foundation announce for Habitat for Humanity?

Avangrid Foundation announced a $135,000 grant to Habitat for Humanity.

How much has Avangrid contributed to Habitat for Humanity since 2018?

Avangrid has contributed over $875,000 to Habitat for Humanity since 2018.

Which areas will benefit from Avangrid's recent grant to Habitat for Humanity?

The grant will benefit over 10 local Habitat partners in New York, Maine, Connecticut, Oregon, and across the United States.

What is the focus of Avangrid's partnership with Habitat for Humanity?

The partnership focuses on sustainable community development, economic stability, and social equity.

How have Avangrid employees contributed to Habitat for Humanity efforts?

Avangrid employees hosted 19 build days and dedicated 700 volunteer hours last year.