Avangrid, Inc. - AGR STOCK NEWS

Avangrid (NYSE: AGR) has launched a new campaign, 'Where Energy Meets Humanity,' which will be broadcast across digital media, TV, billboards, and social media throughout the summer. The campaign highlights Avangrid's commitment to clean energy and grid resiliency investments. CEO Pedro Azagra emphasized the need for substantial new investments in clean energy infrastructure to meet growing demand and ensure reliable power delivery. The campaign, funded by shareholders, includes two commercials that showcase the company's projects from coast-to-coast. The ads will be visible in regions where Avangrid operates, including Connecticut, Maine, Massachusetts, New York, Ohio, Oregon, and Washington, D.C.

Avangrid (NYSE: AGR), a key player in sustainable energy and part of the Iberdrola Group, has opened its National Training Center (NTC) in Oregon. The NTC, located in Sherman County, will train over 200 employees yearly in wind and solar technologies, positioning Avangrid to meet the growing demand for skilled technicians. The center features state-of-the-art facilities, including virtual and mixed reality environments, a 30-foot fall protection tower, and hands-on training with actual equipment. This initiative aligns with the U.S. Bureau of Labor Statistics' projection that wind turbine service technicians will be the fastest-growing job through 2032. The facility also underscores Avangrid's commitment to local communities, contributing over $140 million in property taxes and supporting over 60 full-time jobs in the region. The training will adhere to standards set by the American Clean Power Association and seek Global Wind Organisation certification for safety compliance.

Avangrid (NYSE: AGR), in collaboration with Copenhagen Infrastructure Partners, has announced the commissioning of 10 turbines at the Vineyard Wind 1 project. This project, now delivering 136 MW to Massachusetts' electric grid, is the largest offshore wind project in the United States. Plans include a total of 62 turbines generating 806 MW, enough to power 400,000 homes. The project, 15 miles off Martha’s Vineyard, will save customers $1.4 billion over 20 years and cut carbon emissions by 1.6 million metric tons annually. So far, 937 union jobs have been created through its construction.

Avangrid has been named the Most Sustainable Company in the Clean Energy Industry by World Finance for the second consecutive year. This recognition highlights Avangrid’s dedication to decarbonization and its commitment to a fair and inclusive clean energy transition. Key achievements include reaching 8.7 GW of emissions-free capacity and supporting 70,000 U.S. jobs, contributing approximately $10 billion to the GDP. Avangrid also achieved its diversity goal with 35% women in executive positions.

Avangrid has been honored with Emergency Response Awards from the Edison Electric Institute (EEI) for exemplary recovery efforts by its subsidiaries, New York State Electric & Gas (NYSEG), Rochester Gas and Electric (RG&E), and Central Maine Power (CMP), following severe winter storms. NYSEG and RG&E were recognized for their response to Winter Storm Finn in January 2024, which caused significant outages in New York. CMP was acknowledged for its restoration efforts after a substantial storm on December 18, 2023, affecting 400,000 customers in Maine. The awards highlight Avangrid's commitment to operational excellence and customer service in extreme weather conditions.

Avangrid (NYSE: AGR) has introduced a pilot AI energy assistant named Ava to enhance customer service for its New York subsidiaries, NYSEG and RG&E. This initiative aims to improve customer satisfaction by providing quick responses to common inquiries, such as bill balance and payment arrangements, thereby reducing call center wait times. Ava will expand to Avangrid's subsidiaries in Maine and Connecticut later this year. The program is part of Avangrid's broader digital transformation strategy, which has already seen increased eBill participation and high ratings for mobile apps. The next phase will involve Ava addressing more complex customer queries.

Avangrid (NYSE: AGR), a sustainable energy company and part of the Iberdrola Group, has won the 2024 Plan Sponsor of the Year award from PLANSPONSOR magazine. Recognized for its exceptional retirement and student loan repayment plans, Avangrid leads in the 'Corporate Defined Contribution Plans $1 Billion and Greater' category.

The company's student loan repayment program, launched last year, offers non-union employees $250 monthly payments up to a lifetime maximum of $9,000, saving over 800 employees more than $2.6 million in principal and estimated interest. Avangrid's retirement plans include a 150% employer match on up to 8% of non-union employee compensation, auto-enrollment, and auto-escalation options, achieving a 94% participation rate in 2023.

Additionally, Avangrid implemented BlackRock’s LifePath Paycheck, providing a lifetime income option for retirees. These initiatives underscore Avangrid's commitment to employee financial well-being and long-term success.

Avangrid has partnered with Governor Maura Healey to tour the Operations and Maintenance facilities for Vineyard Wind 1, the first large-scale offshore wind project in the U.S. The tour highlighted a new Marine Terminal and an O&M Service Building, both important to the project's operations and expected to create approximately 90 jobs. Avangrid will manage the wind farm's operation, including turbine maintenance and coordination of contractors. The facilities will employ around 20 technicians trained overseas and support local employment through various roles. The O&M building features sustainability initiatives, including solar panels and flood resiliency. Vineyard Wind 1 will generate 806MW, providing electricity to 400,000 homes and saving customers $1.4 billion over 20 years. The project is also expected to cut carbon emissions by 1.6 million metric tons annually.

Avangrid, a sustainable energy leader and part of the Iberdrola Group, marked World Environment Day by highlighting its environmental initiatives and investments. In 2023, Avangrid's renewable energy production reduced over 7.7 million tons of CO2, equivalent to removing 1.6 million gas-powered cars from the road for a year. The company operates 8.8 gigawatts of emissions-free capacity, focusing on onshore wind, solar, and pioneering offshore wind in the U.S.

Avangrid's environmental efforts include restoring the Kennebunk Plains in Maine, improving butterfly habitats in New York, planting trees across Connecticut, and supporting California condor recovery via a conservation plan with the USFWS and the Oregon Zoo. These initiatives align with Avangrid's Biodiversity Policy to enhance ecosystems and achieve a net positive impact by 2030.