AVANGRID Joins Habitat for Humanity to Reinforce Commitment to Energy Efficiency, Affordable Housing

Rhea-AI Summary

In celebration of Earth Week, AVANGRID (NYSE: AGR) and United Illuminating (UI) partnered with Habitat for Humanity Coastal Fairfield County to emphasize their commitment to energy efficiency and affordable housing in Connecticut. CEO Pedro Azagra toured two energy-efficient homes in Bridgeport, supported by a $5,000 tax credit under the Neighborhood Assistance Act. Since 2016, UI has granted over $56,000 in tax credits to Habitat-CFC, while the Avangrid Foundation contributed more than $841,000 nationally. The company aims for carbon neutrality by 2030, with an ambitious target of 16.9 GW emissions-free capacity. In 2022, AVANGRID employees dedicated over 1,153 hours to volunteer efforts.

Positive

• AVANGRID has contributed over $215,000 to Habitat-CFC, aiding the construction of affordable homes.
• The company aims to achieve carbon neutrality by 2030 and has reported good progress towards ESG goals.
• Over $56,000 in tax credits provided to Habitat-CFC since 2016 demonstrates ongoing support for community initiatives.

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• None.

As Part of Earth Week Celebration, CEO Pedro Azagra Tours Newly Constructed, Energy Efficient Homes in Bridgeport, Building on Dozens of Homes Company Has Supported in Connecticut

BRIDGEPORT, Conn.--(BUSINESS WIRE)-- In celebration of Earth Week, AVANGRID, Inc. (NYSE: AGR) and United Illuminating (UI) today joined Habitat for Humanity Coastal Fairfield County (Habitat-CFC) to highlight the organizations’ longstanding partnership and commitment to supporting energy efficiency and affordable housing in Connecticut. As part of the visit, AVANGRID CEO Pedro Azagra and UI President and CEO Frank Reynolds joined Habitat-CFC Chief Operating Officer Kevin Moore to tour two highly energy efficient homes in Bridgeport, currently under construction, that UI is supporting through a $5,000 tax credit as part of the Neighborhood Assistance Act program.

AVANGRID CEO Pedro Azagra (center) joins (from left) United Illuminating President and CEO Frank Reynolds, State Representative Joe Gresko, Bridgeport City Council President Aidee Nieves, and Habitat for Humanity Coastal Fairfield County Chief Operating Officer Kevin Moore at an energy efficient home under construction by Habitat-CFC in Bridgeport on Wednesday, April 19, 2023. (Photo: Business Wire)

“AVANGRID is a proud member of the communities we serve, and is committed to working with valued partners like Habitat for Humanity to ensure that our neighbors have access to quality, affordable housing as well as the environmental and economic benefits of energy efficiency,” said AVANGRID CEO Pedro Azagra. “As we celebrate Earth Week, it is critical that we address the environmental burdens our Environmental Justice communities face, and expanding access to high-quality, energy efficient, and affordable housing in communities like Bridgeport will help us build a healthier, more equitable future.”

Since 2016, UI has provided more than $56,000 in tax credits to Habitat-CFC, building on the efforts of the Avangrid Foundation, which has given more than $841,000 in support of Habitat for Humanity’s national organization. Together, UI and the Avangrid Foundation have provided more than $215,000 in support to Habitat-CFC, supporting the construction and energy efficiency improvements of dozens of Connecticut homes.

“We are incredibly grateful for AVANGRID and their continued generous financial support through a combination of corporate grants, employee giving, and the Neighborhood Assistance Act tax credit program,” said Habitat for Humanity of Coastal Fairfield County Chief Operating Officer Kevin Moore. “AVANGRID employees have also rolled up their sleeves to volunteer their time and talent to help us build countless homes throughout Coastal Fairfield County. In addition, the rebate dollars provided by United Illuminating has made it possible for us to build over 100 affordable homes to ENERGY STAR standards which helps our Habitat homeowners save money on their monthly utility bills, improve home comfort, and benefit our environment. Avangrid has proven to be one of our most supportive corporate neighbors and, through our continued partnership, we look forward to building many more energy efficient, affordable homes in our community.”

In 2022, AVANGRID employees participated in 31 volunteer build days nationally, totaling 1,153 hours of volunteer time. Through the Foundation’s Energized for Good employee volunteer program, employee participation also resulted in more than $17,000 in additional donations from the Foundation.

Earlier this week, AVANGRID released its 2022 Sustainability Report, titled “Investing in a Clean Energy Future for All,” which details that the company met or exceeded 85% of its 2022 Environmental, Social, Governance and Financial Stewardship (ESG+F) goals. The report also indicated AVANGRID is on track to meet its ambitious long-term ESG+F goals by demonstrating clear progress and actions underway to support their achievement. This includes AVANGRID’s industry-leading 2030 carbon neutrality targets for scopes 1 and 2 and its commitment to reach 16.9 GW emissions-free installed capacity by 2030.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 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 more than 7,500 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 2023 for the fifth 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.

About UI: The United Illuminating Company (UI) is a subsidiary of AVANGRID, Inc. Established in 1899, UI operates approximately 3,600 miles of electric distribution lines and 138 miles of transmission lines. It serves approximately 341,000 customers in the greater New Haven and Bridgeport areas of Connecticut. UI received the Edison Electric Institute’s Emergency Response Award in 2019 and 2021. For more information, visit www.uinet.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230419005831/en/

Media:

Craig Gilvarg

craig.gilvarg@avangrid.com

(857) 998-1130

Source: AVANGRID, Inc.

FAQ

What was AVANGRID's Earth Week initiative in Bridgeport on April 19, 2023?

AVANGRID CEO Pedro Azagra, along with United Illuminating, toured energy-efficient homes in Bridgeport, emphasizing their partnership with Habitat for Humanity.

How much has United Illuminating contributed to Habitat for Humanity since 2016?

United Illuminating has provided over $56,000 in tax credits to Habitat for Humanity Coastal Fairfield County since 2016.

What are AVANGRID's sustainability goals for 2030?

AVANGRID aims for carbon neutrality by 2030 and to reach 16.9 GW emissions-free installed capacity.

How many volunteer hours did AVANGRID employees contribute in 2022?

In 2022, AVANGRID employees participated in over 1,153 hours of volunteer work.