Press Releases
02/25/2026
Avangrid and Xcel Energy Extend Offtake Agreement for 150 MW Power Project in the Midwest
Avangrid and Xcel Energy Extend Offtake Agreement for 150 MW Power Project in the Midwest
Xcel Energy to continue receiving energy from MinnDakota, a 150 MW power project located on the Minnesota-South Dakota border
ORANGE, Conn. — February 25, 2026 — Avangrid, Inc., a leading energy company and member of the Iberdrola Group, today announced that it extended its offtake agreement with Xcel Energy for electricity produced at Avangrid’s MinnDakota energy project. This extension of an existing Power Purchase Agreement (PPA) between the two companies will ensure MinnDakota continues to generate reliable energy for the region and support the local economy.
“MinnDakota was a milestone project when it was built and it continues to generate safe, reliable, and affordable electricity today,” said Jose Antonio Miranda, Avangrid CEO. “Projects like MinnDakota help power thousands of homes and businesses each year, and contribute to the local community with jobs, tax revenue, and landowner lease payments. Our collaboration with Xcel Energy ensures these benefits will continue to support the local community.”
“We’re committed to powering the communities we serve with reliable energy they depend on every day. This extension allows us to continue providing renewable wind energy to our customers in the region,” said Justin Tomljanovic, senior vice president, Corporate Finance and Strategic Growth at Xcel Energy. “We value working with Avangrid and share a common goal to support the local economy and help the community thrive.”
MinnDakota is a 150 MW wind energy project located on the Minnesota-South Dakota border. Two-thirds of the project is located in Lincoln County, Minnesota, with the remainder located in Brookings County, South Dakota. It supports 9 full-time jobs in the community for operation and maintenance. Since it was built, the project has paid about $10 million in property taxes, which support a variety of public services in the area.
Xcel Energy has been the offtaker for MinnDakota since the project began its operation, and it will continue to receive energy from the project under this extension.
Avangrid has over 900 MW of power generation capacity from 10 projects in Minnesota and South Dakota, including MinnDakota. Overall, Avangrid operates over 10.5 GW of capacity from more than 80 projects across the country.
About Avangrid: Avangrid, Inc. is a leading energy company in the United States working to meet the growing demand for energy for homes and businesses across the nation through service, innovation, and continued investments by expanding grid infrastructure and energy generation projects. Avangrid has offices in Connecticut, New York, Massachusetts, Maine, and Oregon, including operations in 25 states with approximately $48 billion in assets, and has two primary lines of business: networks and power. Through its networks business, Avangrid owns and operates seven electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. Through its power generation business, Avangrid owns and operates more than 80 energy generation facilities across the United States producing more than 10.5 GW of power for over 3.1 million customers. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2025 for the fifth consecutive year. The company was named among the World’s Most Ethical Companies in 2025 for the seventh 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.
