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03/21/2023

AVANGRID To Support Meta’s Operations In Texas With New 240 Mw Solar Farm

AVANGRID To Support Meta’s Operations In Texas With New 240 Mw Solar Farm

240 MW True North is AVANGRID’s first solar farm in the state
The project will supply clean, renewable energy to power Meta’s operations in the region

ORANGE, CT — March 20, 2023 — AVANGRID (NYSE: AGR), a leading sustainable energy company and part of the Iberdrola Group, has announced today the signing of a power purchase agreement (PPA) with Meta to procure renewable energy from True North, a 240 MW solar farm under development in Falls County, Texas, and AVANGRID’s first solar facility in the state.

“We are proud to sign this agreement with a partner like Meta who, like us at AVANGRID, has a strong commitment to accelerating the energy transition in the U.S.,” said Pedro Azagra, AVANGRID’s CEO. “With projects like True North, we continue our mission of helping the country meet its ambitious clean energy goals, while also creating quality jobs and strengthening our local economies”.

“We’re excited to expand our partnership with AVANGRID to help bring new solar energy to support our local operations in Texas,” said Urvi Parekh, head of renewable energy at Meta. “True North will support our commitment to 100% renewable energy and represents additional investment and jobs for the region.”

Since 2020, Meta’s global operations have been supported by 100% renewable energy. The True North project will support Meta’s upcoming data center in neighboring Temple, their second data center facility in Texas. 

True North, AVANGRID’s first solar farm in Texas, will deliver 240 MW of clean, renewable energy once it reaches commercial operations, which is expected 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.

With more than 8.6 GW of installed renewable capacity, including 1.1 GW of solar projects operating and under construction, 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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