Press Releases
10/31/2019
Iberdrola Renewables helps STEC double its wind power
Iberdrola Renewables helps STEC double its wind power
South Texas Electric Cooperative now getting more than 10 percent of its energy needs from clean, homegrown electric generation
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May 10, 2011
PORTLAND, Ore. — Iberdrola Renewables has extended and expanded an existing power purchase agreement (PPA) with South Texas Electric Cooperative (STEC), the wholesale power provider to eight Texas electric cooperatives.
STEC will expand its existing 50 megawatt (MW) contract with Portland, Oregon-based Iberdrola Renewables to 100.8 MW and extend it to May 31, 2026.
“This continued and expanded PPA puts STEC in an even better position to provide clean, renewable wind energy to its members,” said Michael Packard, STEC’s general manager. “With this expanded PPA, STEC now gets more than 10 percent of its energy from carbon-neutral renewable generation.”
“Iberdrola Renewables is pleased STEC has become a repeat customer,” said Barrett Stambler, vice president of origination for Iberdrola Renewables. “The expanded contract highlights Iberdrola Renewables’ ongoing success with public power customers and the ongoing demand for cost-effective renewable power. Renewables continue to be an excellent hedge against fuel price volatility.”
The power from the contract comes from the Peñascal Wind Power Project located in Kenedy County, Texas. An original customer of the Peñascal project, STEC has been taking deliveries from the 201.6 MW project since May 19, 2009.
About Iberdrola Renewables:
Iberdrola Renewables, Inc. is headquartered in Portland, Ore, with more than 850 employees at the end of 2010. It is part of the Iberdrola Renovables global group, the world’s leading provider of wind power with more than 12,000 megawatts of renewable energy in operation around the world, and more than 4,600 megawatts of that wind power located in the U.S. www.iberdrolarenewables.us
South Texas Electric Cooperative was formed in 1944 to provide wholesale electric power to member cooperatives. Presently the South Texas Electric Cooperative serves eight distribution cooperatives: Karnes, Wharton County, Victoria, Jackson, San Patricio, Nueces, Magic Valley and Medina electric cooperatives. These cooperatives provide service to over 170,000 members in 65 South Texas counties.
Contact:
Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805
Shayne Dixon, South Texas Electric Coop, 361-485-6169
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.
