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03/15/2023

AVANGRID Continues Expansion Of Solar Farms With New Projects In Texas And Ohio

AVANGRID Continues Expansion Of Solar Farms With New Projects In Texas And Ohio

Texas True North and Ohio Powell Creek Solar Farms Will Generate 523.5 MW of Clean Power in These States
The Projects Will Add to the Company’s 8.6 GW Portfolio of Renewable Energy


ORANGE, Connecticut — March 15, 2023 — AVANGRID (NYSE: AGR), a leading sustainable energy company and part of the Iberdrola Group, continues to strengthen its presence in the country’s renewable energy industry with two new solar farms under construction in Texas and Ohio, which will generate 523.5 MW of clean and affordable power to these states.

“With solar projects like True North and Powell Creek, we are strengthening our mission of helping the U.S. meet its ambitious clean energy goals,” said Pedro Azagra, CEO of AVANGRID. “These solar farms, and many more throughout the U.S., will also boost local economies by creating quality jobs while providing clean, affordable, and renewable energy for business and communities.” 

True North, under development in Falls County, Texas, and AVANGRID’s first solar project in this state, will generate 321 MW of renewable energy once it reaches commercial operations by early 2025. During its construction and operation, True North will create over 200 local jobs and is expected to pay over $40 million in property taxes over 25 years in this state, in which the company already operates more than 1,250 MW of onshore wind facilities.

Powell Creek, a 202.5 MW solar farm under construction in Putnam County, Ohio, is expected to generate clean energy equivalent to power more than 30,000 homes per year and will create up to 400 jobs during its construction process. Additional local revenue to communities resulting from this project exceeds $38 million over the life of the facility.

With more than 8.6 GW of installed renewable capacity, AVANGRID is the third-largest renewable energy operator in the U.S. In total, the company has a strong pipeline of more than 25 GW under development, encompassing solar, onshore wind, offshore wind, and battery energy storage.
 

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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