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10/31/2019

Iberdrola Renewables Files Potential Wind Power Agreement with Green Mountain Power

Iberdrola Renewables Files Potential Wind Power Agreement with Green Mountain Power

Deerfield Wind Project to Supply Clean, Competitively-priced Power

Click Here  for a PDF version of this press release.

July 2, 2015

PORTLAND, Ore. — Iberdrola Renewables today announced the filing of a potential 25-year contract to supply Vermont’s largest utility, Green Mountain Power (GMP), with wind energy from the permitted Deerfield Wind Farm. GMP would purchase 30 megawatts (MW) from the wind farm, under the contract submitted today to the Vermont Public Service Board for review.

The Deerfield project would be built near the existing Searsburg wind project, in Readsboro and Searsburg. The project would include 15 wind turbines, eight in Searsburg and seven in Readsboro, which would produce enough energy to power about 14,000 average Vermont households. The towns combined would receive more than $400,000 in direct annual payments, totaling approximately $7.8 million during the life of the proposed power agreement. Additionally, the project would generate an estimated $300,000 in direct tax payments per year for the State of Vermont, which add up to more than $6 million over 20 years.

“Today’s filing represents a key milestone in moving forward with the Deerfield wind project, and it is good news for Vermonters who support renewable energy and for ratepayers who want competitively-priced power,” said Gov. Peter Shumlin. “Going forward, we know we need all renewable energy sources on the table, including wind, if we are going to meet our state energy goals and have a livable planet for our kids and grandkids. While most of Vermont’s wind projects have been located in the Northeast Kingdom, I am encouraged that through the Deerfield project Southern Vermont will be contributing to our fight against climate change.”

“Providing stable, affordable and highly reliable power in our power portfolio is a top priority for Green Mountain Power and this purchase agreement will ensure we can achieve these important goals for years to come,” said GMP’s General Counsel and Vice President of Power Resources, Charlotte Ancel.

“We’re grateful Iberdrola Renewables is moving closer to bringing Deerfield Wind to fruition,” said Readsboro Selectman Teddy Hopkins. “Like many parts of Vermont, we have a small tax base, and not much ability to attract investments of this size, so the local financial windfall would generate benefits for years to come, benefitting all the taxpayers here in Readsboro.”

“The project will benefit the taxpayers in Searsburg for many years and will provide lots of work for area contractors as well,” said Searsburg Selectboard Chair Sandy Gaszek.

“I’m pleased that Iberdrola Renewables has filed a potential agreement with Green Mountain Power. This is administratively important and will allow the project to move forward towards construction and operation,” said John Sinclair, Forest Supervisor for the Green Mountain and Finger Lakes National Forests.

“Partnering with GMP to offer stably-priced and locally-generated power will benefit Vermont customers for years,” said Barrett Stambler, Iberdrola Renewables’ vice president.

Deerfield could begin construction, pending reviews by various Vermont state agencies, in 2016.

Iberdrola Renewables, LLC is a subsidiary of Iberdrola USA and the U.S. renewable energy division of parent company IBERDROLA, S.A., an energy pioneer with the largest renewable asset base of any company in the world. Iberdrola Renewables, LLC is headquartered in Portland, Ore., and has more than $10 billion of operating assets totaling more than 6,000 MW of owned and controlled wind and solar generation in the U.S. www.iberdrolaren.com

Media Contacts:

Paul Copleman, Iberdrola Renewables, 215-416-9656

Art Sasse, Iberdrola Renewables, 503-475-0330

Ethan Ready, U.S. Forest Service, 802-747-6760

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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