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Avangrid, Inc. (NYSE: AGR) is a diversified energy and utility company headquartered in Orange, Connecticut. With over $45 billion in assets, Avangrid operates in 24 states across the United States. The company 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. The Renewables business focuses on generating electricity through renewable sources like wind and solar power, with a total capacity of 8.8 gigawatts of emissions-free installed capacity.
Formed in 2015 through a merger between Iberdrola USA and UIL Holdings Corporation, Avangrid is majority-owned by Iberdrola S.A., a global leader in the energy industry based in Spain. Iberdrola owns 81.6% of Avangrid and has proposed to acquire the remaining shares. This merger has bolstered Avangrid's position as a leading sustainable energy company in the U.S.
Recent achievements include the successful conservation efforts under the California condor conservation plan, in partnership with the U.S. Fish and Wildlife Service and the Oregon Zoo. The project has resulted in the rearing of 12 condors, supporting biodiversity while mitigating the impacts of the Manzana Wind Power Project. Moreover, Avangrid’s ongoing innovation efforts were highlighted at its seventh Innovation Forum, showcasing advancements in renewable energy technologies and collaborations with top universities and national labs.
Financially, Avangrid has demonstrated robust performance, with significant investments in energy innovation projects amounting to over $102 million in 2023. The company has also been recognized for its commitment to sustainability and corporate responsibility, earning a spot on USA Today’s list of America’s Climate Leaders 2024 and being named among the World’s Most Ethical Companies by the Ethisphere Institute for six consecutive years.
Avangrid has a strong commitment to community engagement, as evidenced by a $135,000 grant to Habitat for Humanity to support local affordable housing projects. Additionally, the company recently signed a Power Purchase Agreement with CPS Energy to supply enough wind energy to power approximately 41,000 Texas homes, further cementing its role in the clean energy transition.
Looking forward, Avangrid is pioneering the U.S. offshore wind industry with projects like Vineyard Wind 1, set to be the nation’s first large-scale offshore wind farm. This project will generate electricity for over 400,000 homes and is expected to significantly reduce carbon emissions.
To learn more about Avangrid and its initiatives, visit www.avangrid.com.
AVANGRID (NYSE: AGR) has proposed changes to delivery rates for its subsidiaries, New York State Electric & Gas and Rochester Gas and Electric, with the plan named “Reliable Energy New York.” The proposal aims to enhance infrastructure, customer service, and promote renewable energy. The average delivery cost will increase by $10-18 per month (13-22%), effective May 1, 2023. The initiative includes significant investments in reliability, smart technology, and support for low-income communities, while maintaining competitive rates in New York.
Avangrid Renewables has signed a Host Community Agreement with the Town of Barnstable for the Park City Wind project, marking a significant milestone in the U.S. offshore wind industry. The agreement ensures $16 million in host community fees and supports a coordinated construction plan that aligns with local sewer projects. Park City Wind, an 800 MW project, will provide clean energy to around 400,000 homes and significantly reduce greenhouse gas emissions. It is scheduled for completion in 2026, reinforcing Avangrid's commitment to sustainable energy development.
AVANGRID (NYSE:AGR) will participate in the AGA Financial Forum starting on May 17, 2022. Investors can access presentation materials after market close on the company's Investor Relations website. Headquartered in Orange, CT, AVANGRID boasts approximately $40 billion in assets, operating in 24 U.S. states. It serves over 3.3 million customers through its utility network and emphasizes sustainability through its renewable energy initiatives. Recognized for its corporate citizenship, AVANGRID ranks high in environmental commitment and ethical standards.
AVANGRID, through its subsidiary The United Illuminating Company (UI), has partnered with Bidgely to introduce Connecticut's first electric vehicle (EV) managed charging program.
This initiative aims to shift EV charging to off-peak hours, supporting the state's goal of 125,000 to 150,000 EVs on the road by 2025. The program, launched on January 1, 2022, will enhance grid flexibility and minimize energy costs for customers who opt in. It uses Bidgely's innovative technology to identify EV owners and incentivize off-peak charging.
The Maine Supreme Court heard arguments from New England Clean Energy Connect (NECEC) and Avangrid Networks, asserting that a recent referendum blocking construction is unconstitutional. The court previously deemed a similar 2020 referendum unconstitutional, which strengthens their case. NECEC, a $1.2 billion clean energy project, is expected to provide 1,200 megawatts of renewable energy, create over 1,600 jobs, and deliver economic benefits exceeding $250 million to Maine residents. The injunction against construction is expected to be ruled upon later this summer.
Avangrid Renewables has launched its 200 Megawatt Golden Hills wind farm in
AVANGRID, Inc. (NYSE: AGR) announced its first quarter 2022 earnings and plans to hold a webcast conference call on April 27, 2022, at 10:00 A.M. ET. The company aims to be a leading sustainable energy provider in the U.S., managing about $40 billion in assets across 24 states and servicing over 3.3 million customers. AVANGRID operates two divisions: Avangrid Networks and Avangrid Renewables and employs roughly 7,000 staff. It has been recognized as one of America's best corporate citizens and ranked second in the utility sector for environmental commitment.
AVANGRID (NYSE:AGR) is set to release its Q1 2022 financial results on April 26, 2022, after market close, with a news release available on its investors' website. A webcast conference call for financial analysts will take place on April 27, 2022, at 10:00 A.M. ET to discuss the results. AVANGRID focuses on sustainable energy in the U.S., with approximately $40 billion in assets, operating in 24 states, and serving over 3.3 million customers.
AVANGRID, Inc. (NYSE: AGR) has declared a quarterly dividend of
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