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04/17/2024

Avangrid receives final shipment of solar panels at True North solar project in Texas, a key step toward on-time construction

Avangrid receives final shipment of solar panels at True North solar project in Texas, a key step toward on-time construction

About half of the solar panels have been installed at True North, with installation to be completed later this year

PORTLAND, Ore. — April 17, 2024 — Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced that it received its final shipment of solar panels to the True North project site in Falls County, Texas. This marks a significant checkpoint for construction of True North, clearing a major hurdle in the solar industry.

“We are thrilled to have reached another major construction milestone at True North, which is set to become Avangrid’s largest solar facility and our first in Texas,” said Pedro Azagra, Avangrid CEO. “It’s no secret that the solar industry has dealt with challenges in securing solar panels to build these important renewable power facilities. With this final shipment of solar panels in hand, we are moving full speed ahead with construction and I look forward to seeing True North energized as we accelerate a clean energy transition.”

True North is a 238 MWac (321 MWdc) solar farm under construction near Waco, Texas. It will supply clean, renewable energy in support of Meta’s net zero commitment, including supporting its upcoming data center in neighboring Temple, their second data center facility in Texas, with 100 percent renewable energy.

During its construction and operation, the project is creating local jobs and supporting local communities. It is expected to pay more than $40 million in property taxes over the life of the project, which directly supports public services like safety and fire protection, as well as local schools.

"Without projects like True North Solar, small districts like Mart Independent School District don't see the benefits that high property valuations can provide,” said Betsy Burnett, Superintendent of Mart ISD. “Commercial businesses typically do not build in rural areas such as ours. This project, along with others in the area, allows us to generate funding to replace and renovate our aging buildings and facilities."

Avangrid has successfully developed, built, and operated renewable energy facilities in Texas for more than 15 years, with more than 1,200 MW of installed wind capacity. The company has paid more than $100 million in property taxes from its existing facilities.
 

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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