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04/17/2023

AVANGRID And The Navajo Tribal Utility Authority Announce Plan To Develop Green Energy Projects

AVANGRID And The Navajo Tribal Utility Authority Announce Plan To Develop Green Energy Projects

This partnership represents the potential to develop up to 1 GW of renewable energy projects in the Navajo Nation. 
Both parties will collaborate to study the feasibility of wind and solar facilities, as well as battery storage projects.

Portland, OR — April 17, 2023 — AVANGRID (NYSE: AGR), a leading sustainable energy company and part of the Iberdrola Group, and the Navajo Tribal Utility Authority (NTUA), the largest multi-utility enterprise owned and operated by a Native American tribe, today announced they have signed a Memorandum of Understanding (MOU) to explore opportunities to develop up to 1 GW of green energy projects within the Navajo Nation in the states of New Mexico and Arizona.

This partnership will allow the two parties to collaborate and study the feasibility of developing wind and solar projects, as well as battery storage solutions, to create new jobs, create economic development on the Navajo Nation, offset lost revenue on the Navajo Nation, and bring reliable, affordable, and renewable energy to power Navajo Nation businesses and residents.

“We are thrilled to announce this collaboration with the NTUA, which allows us to join efforts to study and develop green energy projects with the potential of bringing important benefits to the region”, said Pedro Azagra, CEO of AVANGRID. “Partnerships like these reflect our steadfast commitment to making a meaningful, positive impact in the lives of the families in the communities where we are present.” 
“NTUA Generation has been working diligently to explore renewable energy development opportunities on the Navajo Nation with the promise of new jobs and clean green energy,” said NTUA General Manager Walter Haase. 

“We do believe the partnership we have with AVANGRID will advance clean green energy development on the Navajo Nation and will help provide benefits to the communities served by NTUA,” Haase said. “We look forward to the progress this partnership will bring.” 
“The Navajo Nation appreciates Navajo Tribal Utility Authority’s efforts in the clean energy generation space. As a wholly owned entity of the Navajo Nation, the utility’s tenacity and development of partnerships shows what can be accomplished,” said Navajo Nation President Nygren.

“This partnership is transformative and exactly what the Inflation Reduction Act was intended to encourage. AVANGRID and Navajo Nation’s commitment to explore opportunities together to build clean energy projects will create new revenue streams and lower energy costs for New Mexicans. I hope to see many more innovative partnerships in the coming months and years”, said U.S. Sen. Martin Heinrich.

As part of this partnership, AVANGRID and NTUA will explore how the projects being contemplated could benefit from the Inflation Reduction Act (“IRA”), the largest climate investment in the U.S. and global history. The IRA opens a path to meaningful emissions reductions in Indian tribes through the development of projects that can help them transition to a cleaner energy economy.
 

About Avangrid

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid 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. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

 

About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.

With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.

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