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 opened its new National Training Center (NTC) in Sherman County, Oregon, welcoming the first class of 10 students from 5 states. The state-of-the-art facility, built this summer, will train new hires and upskill current wind and solar technicians. The 2.5-week program focuses on safety and technical training, featuring a 30-foot-tall fall protection tower and hands-on experience with wind turbine components.
The NTC aims to address the growing demand for skilled renewable energy jobs, with plans to train over 100 wind and solar technicians annually. Avangrid's training program aligns with American Clean Power Association guidelines and seeks Global Wind Organisation certification. The center's location near Avangrid's 14 existing wind and solar facilities, with a combined operating capacity of about 1.6 GW, represents additional investment in the region.
Avangrid, Inc. (NYSE: AGR), a sustainable energy company, has garnered 22 awards and recognitions in the first half of 2024. These accolades span various aspects of its business, including employee experience, climate action, career development, and workplace inclusion. Notable awards come from prestigious organizations such as TIME, Ethisphere, JUST Capital, Forbes, and Disability:IN.
Highlights include Avangrid's recognition as America's Climate Leader by USA Today, its inclusion in the JUST 100 list (ranking first in the utility industry and 12th overall), and being named one of the World's Most Ethical Companies by Ethisphere. The company also received accolades for its Student Loan Debt Repayment Program and its emergency response efforts following severe weather events.
CEO Pedro Azagra emphasized that these awards reflect Avangrid's progress in sustainability and climate leadership, as well as the dedication of its employees in building a clean energy future.
Avangrid (NYSE: AGR) has begun installing solar modules at its Camino Solar project in California. With a capacity of 44 MWac (57 MWdc), the project is expected to generate energy equivalent to the consumption of about 14,000 U.S. homes annually. The installation will comprise approximately 105,000 solar modules.
Key highlights:
- Camino Solar is projected to create about 100 local jobs during construction
- It will generate an estimated $15 million in state and local taxes over its lifetime
- The project is located adjacent to Avangrid's 189 MW Manzana wind farm
- Upon completion, Camino will be Avangrid's tenth solar project and its first in California
Avangrid currently operates six wind energy projects in California with a combined capacity of over 500 MW, which have generated $88 million in property taxes to date.
Avangrid (NYSE: AGR) has been awarded a 791 Megawatt (MW) offshore wind project by Massachusetts in a multi-state regional solicitation. The New England Wind 1 project, located 30 miles south of Barnstable, is set to provide clean, reliable power to approximately 400,000 homes by 2029. This development will create over 4,400 full-time equivalent jobs and bring $3 billion in local investment, including new facilities in Salem and New Bedford.
The project aims to reduce greenhouse gas emissions equivalent to removing 300,000 gasoline-based cars annually. If approved, construction could begin in 2025, with full commercial operation by 2029. New England Wind 1 will complement Vineyard Wind 1, the first large-scale offshore wind project in the U.S., currently under construction nearby.
Avangrid (NYSE: AGR) has received Federal Energy Regulatory Commission (FERC) approval for Iberdrola's acquisition of the remaining 18.4% of Avangrid's common stock. The transaction, approved by Avangrid's Board of Directors on May 17, 2024, is subject to several conditions, including shareholder approvals and regulatory clearances from Maine and New York utility commissions. CEO Pedro Azagra stated that this merger will enhance Avangrid's ability to expand renewable projects and invest in infrastructure improvements. The deal is expected to close in Q4 2024, strengthening Avangrid's capacity to meet growing demand for sustainable energy solutions and lead the clean energy transition in the United States.
Avangrid (NYSE: AGR), an Iberdrola subsidiary, has been certified as a Top Employer 2024 in the United States by the Top Employers Institute. This recognition highlights Avangrid's commitment to excellent HR policies and people practices. The certification process involves a comprehensive HR Best Practices Survey covering six domains and 20 topics across the business and employee lifecycle.
Iberdrola, Avangrid's parent company, has also been named a Top Employer 2024 in Europe, specifically in Spain, the UK, Germany, France, and Italy. Additionally, Iberdrola received the same certification for its operations in Brazil and Mexico. This makes Iberdrola one of only two energy companies worldwide to obtain the European certification and one of four companies registered in Spain to achieve this status.
Iberdrola, parent company of Avangrid (AGR), has achieved Top Employer 2024 certification in eight countries, including the United States. This recognition, awarded by the Top Employers Institute, acknowledges excellence in people practices and HR management. Iberdrola secured this certification in Spain, UK, Germany, France, Italy, US, Brazil, and Mexico.
The certification process involves a comprehensive HR Best Practices audit across six domains and 20 topics, covering areas such as people strategy, work environment, recruitment, learning, well-being, and diversity. Iberdrola is one of only two energy companies worldwide to obtain European certification from the Top Employers Institute.
This achievement highlights Iberdrola's commitment to supporting employee development and implementing innovative HR practices. The company's success in multiple countries demonstrates its consistent approach to people management across its global operations.
Avangrid (NYSE: AGR) has received the prestigious Patriot Award from the Department of Defense's Employer Support of the Guard and Reserve (ESGR) for the second consecutive year. The award recognizes the company's outstanding support of National Guard and Reserve employees. Three Avangrid executives were honored: Brian Harrell, Roger Hicks, and David McGill.
CEO Pedro Azagra highlighted the importance of veterans in the energy sector, praising their discipline, safety focus, and leadership qualities. The Patriot Award acknowledges efforts beyond legal requirements, including flexible schedules and support for deployed employees and their families.
Avangrid's commitment to veterans extends beyond recruitment, with active support for career growth and advancement. The company also maintains AVAN-Veterans, a business resource group dedicated to promoting career development for employees who have served in the military.
Avangrid (NYSE: AGR) has reported significant improvements in customer service metrics across its utilities in Maine, New York, and Connecticut. Key highlights include:
- Central Maine Power (CMP) exceeded Maine PUC performance standards in 2023, with 99.9% of bills issued accurately and on time.
- New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E) surpassed PSC targets, answering over 85% of calls within 30 seconds in late 2023.
- United Illuminating (UI), Southern Connecticut Gas (SCG), and Connecticut Natural Gas (CNG) are exceeding PURA targets, with customer satisfaction rates above 87% in July 2024.
These improvements are attributed to increased staffing, expanded digital tools, and significant investments in workforce and technology.
Avangrid (NYSE: AGR) has completed module installation at its True North Solar project in Falls County, Texas, marking a significant milestone. The project, set to become Avangrid's largest solar installation, features over 488,000 solar modules and boasts a capacity of 238 MWac (321 MWdc). Commercial operation is expected by year-end, with the project supporting Meta's net zero commitment and its upcoming data center in Temple.
The construction phase created 350 peak jobs, mostly sourced locally, and will provide several permanent positions. Avangrid anticipates paying over $40 million in taxes throughout the project's lifespan. This development expands Avangrid's Texas renewable energy portfolio, which already includes more than 1,200 MW of installed wind capacity.
