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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, Inc. (NYSE: AGR) announced the defeat of its New England Clean Energy Connect (NECEC) project in a recent Maine referendum. Despite backing from key political figures and extensive public support, fossil fuel interests prevailed through a costly misinformation campaign. The company views the outcome as a setback for clean energy initiatives but remains committed to advocating for the NECEC. AVANGRID has complied with all regulations for the project and expresses gratitude to the 148,000 Mainers who supported it, emphasizing the importance of sustainable energy for Maine and the broader region.
AVANGRID, Inc. (NYSE: AGR) announced its Q3 2021 earnings release and upcoming conference call scheduled for October 27, 2021, at 10:00 A.M. ET. The call aims to provide an overview of financial results followed by a Q&A session. AVANGRID operates with approximately $39 billion in assets and serves over 3.3 million customers across New York and New England through its electric and natural gas utilities. Recognized for its corporate responsibility, AVANGRID has been listed among the 2021 JUST 100 companies and named one of the World’s Most Ethical Companies for three consecutive years.
AVANGRID (NYSE: AGR) has been selected for the S&P Global Clean Energy Index, showcasing its commitment to renewable energy and sustainability. This Index tracks up to 100 companies worldwide that produce energy from clean sources. CEO Dennis Arriola highlighted the significance of this inclusion, reflecting AVANGRID's ESG+F strategy. The company aims to enhance its renewable capacity by over 100% by 2025, cut greenhouse gas emissions by 35%, and increase diversity in its supply chain and workforce.
AVANGRID (NYSE: AGR) has appointed Bill White and Jose Antonio Miranda as Co-Presidents and CEOs of Avangrid Renewables following Alejandro de Hoz's departure. White will focus on offshore operations while Miranda will oversee onshore. Under their leadership, AVANGRID aims to enhance its renewables portfolio, as the company is now the third-largest renewables generator in the U.S. with a strong offshore wind presence. AVANGRID boasts approximately $39 billion in assets and serves over 3.3 million customers across 24 states.
AVANGRID, Inc. (NYSE:AGR) will release its third quarter 2021 financial results on October 26, 2021, after market close. The results will be available on the company's website. A webcast conference call for analysts will be held on October 27, 2021, at 10:00 A.M. ET, where the executive team will discuss the financial results and respond to questions. AVANGRID operates with approximately $39 billion in assets across 24 states, serving over 3.3 million customers through its Networks and Renewables divisions.
AVANGRID (NYSE: AGR), a leader in sustainable energy, will participate in the Wolfe Research Utilities, Midstream and Clean Energy Conference. Investors can access presentation materials on AVANGRID's website prior to market opening. The company, headquartered in Orange, CT, manages $39 billion in assets and operates in 24 U.S. states, serving over 3.3 million customers. Recognized as one of the 2021 JUST 100 companies, AVANGRID prioritizes environmental sustainability and community service. More details can be found at AVANGRID Investors.
Avangrid Renewables has appointed Jose Antonio Miranda as President Onshore to direct the expansion of its onshore wind and solar operations. Miranda, who previously served as CEO of Onshore for Siemens Gamesa in the Americas, brings valuable leadership experience.
President & CEO Alejandro de Hoz highlighted that Miranda's expertise is critical as the company pursues its ambitious renewable energy goals, particularly following the approval of the Vineyard Wind project. Avangrid, with approximately $39 billion in assets, is committed to becoming a leader in sustainable energy across the U.S.
Avangrid Renewables and Copenhagen Infrastructure Partners have announced a restructuring of their Vineyard Wind joint venture to enhance U.S. offshore wind development. The joint venture will continue to own Vineyard Wind 1, an 800 MW project set to supply energy to Massachusetts starting in 2023, while Avangrid will take ownership of lease area OCS-A 534, including Park City Wind and Commonwealth Wind. The restructuring is expected to streamline project development and includes a $167.5 million payment from Avangrid for full ownership of OCS-A 534.
Santander CIB has announced its role as financial advisor and joint lead arranger for the $2.3 billion financing of Vineyard Wind 1, the first large-scale offshore wind project in the U.S. This 800 MW project, located off Martha’s Vineyard, aims to supply electricity to over 400,000 homes, save ratepayers $1.4 billion over 20 years, and reduce carbon emissions by more than 1.6 million tons annually. Onshore construction commences this year, with power expected to be delivered in 2023.
AVANGRID (NYSE: AGR) has achieved a significant milestone by securing financial closure for the Vineyard Wind 1 project, marking it as the first commercial-scale offshore wind project in the U.S. The project, with a capacity of 800 MW, has obtained approximately
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