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) operates at the intersection of regulated utilities and renewable energy innovation, serving millions across key U.S. markets. This dedicated news hub provides investors and industry observers with essential updates spanning earnings announcements, regulatory developments, and renewable energy project milestones.
Key resources include: Quarterly financial results, strategic partnership disclosures, grid modernization initiatives, and wind power expansion updates. Our curated collection ensures transparent access to material events shaping AGR's position in the evolving energy landscape.
Bookmark this page for streamlined tracking of operational developments across both utility segments - including electric/gas distribution in New York and New England - and renewable operations managing over 8.6 GW of clean energy capacity. Stay informed about critical filings, leadership updates, and sustainability commitments through verified primary sources.
AVANGRID (NYSE: AGR) has announced an open solicitation for transmission service for the Excelsior Connect, a proposed 260-mile underground clean energy superhighway in New York. This project aims to enhance New York City’s access to clean energy and decrease reliance on fossil fuels, supporting the state's Climate Leadership and Community Protection Act. The 1310 MW bidirectional line will facilitate renewable energy delivery into New York City. AVANGRID seeks developers to respond to the NYSERDA Tier 4 RFP due May 12, 2021, with expressions of interest submitted by March 8, 2021.
AVANGRID, Inc. (NYSE: AGR) achieved a significant milestone in its merger with PNM Resources, Inc. (NYSE: PNM), with PNM's shareholders voting overwhelmingly in favor of the transaction. Announced in October 2020, the deal is valued at $8.3 billion, offering PNM shares at $50.30 each. The merger will create one of the largest clean energy companies in the U.S., operating ten regulated utilities across six states. Regulatory approvals are ongoing, with recent clearance from CFIUS and the expiration of the Hart-Scott-Rodino waiting period.
Portland General Electric (NYSE: POR) announced that Intel (NASDAQ: INTC) has joined its Green Future Impact program, securing a 15-year agreement with Avangrid Renewables (NYSE: AGR) for a new 138-megawatt solar facility in Wasco County, Oregon. This facility, dubbed Daybreak Solar, will support Intel's energy needs and create 150-200 jobs during peak construction. The project will produce power for over 32,000 homes and generate about $30 million in economic benefits. Intel's participation fills the program's original 300-megawatt capacity, demonstrating a significant commitment to renewable energy.
AVANGRID (NYSE: AGR) announced the appointment of Catherine S. Stempien as President & CEO of its subsidiary, Avangrid Networks, effective March 15. Stempien succeeds retiring Tony Marone, who has been with the company for 33 years. With extensive experience at Duke Energy, where she led operations serving over 1.8 million customers, Stempien is anticipated to bring new ideas to enhance service delivery and sustainability initiatives for AVANGRID's 3.3 million customers across New York and New England.
AVANGRID (NYSE: AGR) will announce its fourth quarter and full-year 2020 financial results on February 23, 2021, after market close. A webcast conference call for analysts will follow on February 24, 2021, at 10:00 A.M. Eastern time. AVANGRID operates in 24 U.S. states with approximately $35 billion in assets, serving over 3.3 million customers in New York and New England. The company focuses on sustainability and was recognized as one of the World’s Most Ethical Companies in 2019 and 2020.
AVANGRID (NYSE: AGR) has received clearance from CFIUS concerning its proposed merger with PNM Resources (NYSE: PNM), indicating no national security concerns regarding the transaction. Following the recent expiration of the HSR Act waiting period, AVANGRID is optimistic about obtaining all necessary approvals to complete the merger in the second half of 2021. The merger, announced in October 2020, involves an all-cash offer of $50.30 per share, valuing the deal at $8.3 billion. Upon completion, the merged entity will be a significant player in the U.S. clean energy sector.
Avangrid Renewables has successfully commissioned the Tatanka Ridge Wind Farm, with a capacity of 154.8 MW, on January 5, 2021. Located in Deuel County, S.D., this facility features 56 wind turbines and is jointly owned by Avangrid (15%) and WEC Energy Group (85%). The power purchase agreement with Dairyland Power Cooperative will provide 51.6 MW of renewable energy, enough to power approximately 16,000 homes. The project is set to generate $1.7 million in local economic benefits annually.
AVANGRID (NYSE: AGR) has successfully obtained the Presidential Permit from the US Department of Energy for its New England Clean Energy Connect (NECEC) project, completing all major permitting phases. Construction has commenced, allowing the project to deliver 1,200 megawatts of renewable hydropower from Hydro-Quebec to Maine. The $950 million investment is expected to create over 1,600 jobs and provide significant economic benefits, including infrastructure upgrades and lower electric rates. The project aims to cut three million metric tons of harmful emissions annually.
Avangrid Renewables submitted a Construction and Operations Plan (COP) for the Kitty Hawk Offshore Wind project to the Bureau of Ocean Energy Management on December 11. The first phase is set to generate approximately 800 MW, contributing to a total capacity of up to 2,500 MW, enough to power 700,000 homes. The project is expected to create nearly 800 jobs and generate $2 billion in economic impact from 2021 to 2030, with significant benefits primarily in the Hampton Roads region. Construction is anticipated to begin in 2024.
