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10/12/2022

AVANGRID and Sempra Infrastructure Sign Heads of Agreement for Development of U.S. Green Hydrogen and Ammonia Projects

AVANGRID and Sempra Infrastructure Sign Heads of Agreement for Development of U.S. Green Hydrogen and Ammonia Projects

AVANGRID and Sempra Infrastructure Sign Heads of Agreement for Development of  U.S. Green Hydrogen and Ammonia Projects 

  • Provides a framework for companies to identify, appraise, and potentially develop large-scale green hydrogen and ammonia projects powered by renewable sources
  • Initial regions of focus are the U.S. Gulf Coast and West Coast

HOUSTON, TX. – Oct. 12, 2022 – AVANGRID, a member of the Iberdrola Group (NYSE: AGR), and Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV:SRE), today announced they have entered into a heads of agreement (HOA) for the potential joint development of U.S. green hydrogen and ammonia projects powered by renewable sources.


The HOA provides a framework for the companies to identify, appraise, and potentially develop large-scale green hydrogen projects to help meet the energy and decarbonization needs of both U.S. and international customers. 


“The U.S. is facing unprecedented challenges and opportunities to develop competitive solutions that meet its growing energy needs, while also aiming to transition to a cleaner and more sustainable energy future”, said Pedro Azagra, CEO of AVANGRID. “AVANGRID and Iberdrola are very proud to innovate and develop green hydrogen and ammonia projects in collaboration with Sempra Infrastructure, which are crucial to decarbonize the industry and will help the country reach its ambitious clean energy goals”. 


“Clean Hydrogen and ammonia can be effective decarbonization solutions for various sectors of the U.S. and global markets. We are excited to work together with AVANGRID to develop large-scale green hydrogen and ammonia projects to advance hydrogen’s role in the global energy transition,” said Justin Bird, CEO of Sempra Infrastructure. “Significant infrastructure will be needed for hydrogen’s potential to become a reality and Sempra Infrastructure’s combined platform is well-positioned to support the deployment of these new energy solutions.”
 

AVANGRID’s deep background in renewable development as the third largest renewables operator in the U.S. complements Sempra Infrastructure’s complex project development and commercial expertise across clean power, energy networks and LNG and net-zero solutions. 


Sempra Infrastructure is currently developing multiple world-class energy transition projects in North America, including LNG export projects to serve customers in both the Atlantic and Pacific Basins, as well as new opportunities in renewable energy, carbon capture and sequestration, as well as other pathways to produce clean hydrogen and ammonia leveraging the resources available in different regions.


The referenced HOA is non-binding, and the development of these joint projects is subject to a number of risks and uncertainties, including reaching definitive agreements, securing all necessary permits, and reaching a final investment decision with respect to each project.

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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