Welcome to our dedicated page for Avangrid news (Ticker: AGR), a resource for investors and traders seeking the latest updates and insights on Avangrid stock.
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) and PNM Resources (NYSE:PNM) reported strong support for their merger, with nearly all 24 intervenors in the NMPRC proceedings either endorsing or not opposing the agreement. The merger promises customer benefits totaling
On July 30, 2021, PNM and AVANGRID filed additional documents in their merger application, providing new commitments to enhance customer benefits and services in New Mexico. Total customer rate benefits rose from $24.6 million to $88 million, including $65 million in rate credits and $15 million for low-income energy efficiency. Economic development contributions increased to $15 million, with plans to add 150 new jobs. The merger has received prior approvals from five federal agencies, with a key evidentiary hearing scheduled for August 11-20, 2021.
AVANGRID (NYSE: AGR) has joined the Electric Highway Coalition, a group of 14 U.S. utilities focused on establishing a rapid electric vehicle (EV) charging network. This coalition aims to enhance long-distance EV travel with charging stations located less than 100 miles apart. AVANGRID operates four utilities and is committed to sustainable energy solutions, aiming for carbon neutrality by 2035 and a 60% clean energy vehicle fleet by 2030. The coalition's growth reflects a broader industry trend towards facilitating electric vehicle adoption across 29 states.
Avangrid Renewables, a subsidiary of AVANGRID (NYSE: AGR), announced that the U.S. Bureau of Ocean Energy Management has issued a Notice of Intent to prepare an Environmental Impact Study for the Kitty Hawk North offshore wind project. This project, located over 27 miles off the Outer Banks, will have a capacity of at least 800 MW, contributing to a total potential of 2,500 MW in the Kitty Hawk Wind Energy Area. Estimated economic impact is $2 billion, creating nearly 1,000 jobs between 2021 and 2030, supporting clean energy goals in Virginia and North Carolina.
AVANGRID, Inc. (NYSE: AGR) will release its second quarter 2021 earnings on July 21, 2021, at 10:00 A.M. ET. Interested analysts and investors can access the earnings release and accompanying materials on the company's website. AVANGRID aims to be a leader in sustainable energy, with about $39 billion in assets and operations across 24 states, serving over 3.3 million customers. Recognized for its commitment to sustainability and ethics, AVANGRID operates both electric and natural gas utilities and renewable energy facilities.
AVANGRID (NYSE: AGR) is establishing Customer Listening Councils across Maine, New York, Connecticut, and Massachusetts. These councils aim to enhance communication between the company and its customers by enabling direct feedback. The initiative aligns with AVANGRID's commitment to its Environmental, Social, Governance, and Financial (ESG+F) framework. The councils will consist of diverse representatives and meet 3-4 times annually. This customer-focused approach emphasizes operational excellence and aims to address expectations more effectively, thereby enhancing customer satisfaction and trust.
AVANGRID (NYSE: AGR) announces a Project Labor Agreement (PLA) with Massachusetts Building Trades for its Vineyard Wind 1 project, an 800 MW offshore wind initiative. This agreement guarantees fair wages and worker protections, ensuring a skilled workforce is available to meet project deadlines. CEO Dennis V. Arriola emphasized the PLA as a victory for workers and the industry, laying the groundwork for future offshore wind projects in the U.S. Avangrid's initiatives also include Park City Wind and Kitty Hawk Offshore Wind, which aim to deliver significant renewable energy capacity.
AVANGRID, Inc. (NYSE:AGR) has declared a quarterly dividend of $0.44 per share on its Common Stock. This dividend is set to be paid on October 1, 2021, to shareholders on record as of September 3, 2021. The company, which operates across 24 U.S. states with approximately $38 billion in assets, is recognized for its commitment to sustainability and ethical practices, being listed among the 2021 JUST 100 companies and World's Most Ethical Companies. AVANGRID serves over 3.3 million customers through its networks and renewables business.
AVANGRID (NYSE: AGR) has submitted responses to the U.S. Department of Energy’s Request for Information on low-cost clean hydrogen development. Projects include a 20 MW electrolyzer in Connecticut aiming to produce 2.9 million kg of hydrogen annually and create up to 800 jobs. In New York, a hydrogen facility in Rochester supports zero-emissions transport. Other initiatives span Maine, the Gulf Coast, and Oregon. This effort aligns with the DOE’s Energy Earthshot Initiative to promote clean energy solutions.
AVANGRID (NYSE: AGR) has announced that the U.S. Bureau of Ocean Energy Management issued a Notice of Intent to conduct an Environmental Impact Study for the 804 MW Park City Wind project. This offshore wind initiative is a significant milestone, aiming to deliver clean energy to Connecticut. The project is anticipated to generate about $890 million in economic development and support approximately 2,800 job years, providing around 14% of the state's electricity supply. A public comment period will last for 30 days to refine the EIS scope.
FAQ
What is the current stock price of Avangrid (AGR)?
What is the market cap of Avangrid (AGR)?
What does Avangrid, Inc. do?
Where is Avangrid, Inc. headquartered?
Who owns Avangrid, Inc.?
What are the primary lines of business for Avangrid, Inc.?
How many customers does Avangrid serve?
What are some recent achievements of Avangrid, Inc.?
What is Avangrid’s commitment to sustainability?
What community initiatives is Avangrid involved in?
What is Vineyard Wind 1?
How can I learn more about Avangrid, Inc.?
