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 an energy and utility company headquartered in Orange, Connecticut, and a member of the Iberdrola Group. News about Avangrid often focuses on its two primary lines of business: regulated electric and natural gas utilities in New York and New England, and renewable energy generation facilities across the United States. Company updates highlight how these businesses support millions of customers and contribute to the broader energy system.
On this news page, readers can find coverage of Avangrid’s infrastructure projects, such as substation modernization and grid upgrades undertaken by subsidiaries like Rochester Gas and Electric and Central Maine Power. These stories describe investments aimed at improving reliability, resiliency, and capacity for residential and commercial customers, as well as efforts to respond to storms and other extreme weather events.
Avangrid’s renewables-related news includes information about wind and solar projects, generation performance during periods of high demand, and the role of its energy facilities in supplying electricity during severe winter conditions. The company also shares updates on workforce initiatives, including training programs at its National Training Center for wind and solar technicians, and fleet electrification efforts through the adoption of hybrid bucket trucks and alternative fuels.
Additional news items cover Avangrid’s digital and innovation activities, such as its annual Digital Summit, where technology partners present tools related to smart grids, customer service, and operations. Readers will also see stories about the Avangrid Foundation’s philanthropic programs, employee volunteerism, wildlife rehabilitation grants, and recognition the company has received for ethics and corporate citizenship. Investors and observers can use this page to follow how Avangrid communicates its activities, investments, and community engagement over time.
AVANGRID, Inc. (NYSE:AGR) has declared a quarterly dividend of $0.44 per share on its Common Stock, payable on April 1, 2021, to shareholders of record as of the close of business on March 5, 2021. The company, with approximately $36 billion in assets and operations across 24 U.S. states, operates through two main divisions: Avangrid Networks and Avangrid Renewables. It serves over 3.3 million customers and employs around 6,600 people, highlighting its commitment to sustainability and ethical practices.
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.
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