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10/31/2019

Iberdrola Renewables Secures Wind Power Deal with Southern California Utility

Iberdrola Renewables Secures Wind Power Deal with Southern California Utility

Clean, Competitively-priced Power to Come from El Cabo Wind Farm

Click Here  for a PDF version of this press release.

February 17, 2016

Portland, Ore. — Iberdrola Renewables today announced a 20-year contract to supply Southern California Edison (SCE), an Edison International company, with renewable energy from the El Cabo Wind Farm now under construction in Torrance County, New Mexico.

SCE submitted the contract for review by the California Public Utilities Commission earlier this month.

The 298 megawatt (MW) project will feature up to 149 wind turbines and is slated for commercial operation in the second half of 2017. Civil and road work is ongoing on the combined 56,000 acre project area comprised of state trust land managed by the New Mexico State Land Office and private property.

The El Cabo Wind Farm has already put a number of local businesses to work, and is expected to provide at least $1.5 million in lease and PILOT (payment in lieu of taxes) payments per year, for a total of at least $37.5M over the 25-year life of the project. Iberdrola Renewables will make a PILOT payment of $1.1 million to Torrance County this year.


About Iberdrola Renewables: Iberdrola Renewables, LLC is a subsidiary of AVANGRID, Inc. 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.

About AVANGRID: AVANGRID, Inc. (NYSE:AGR) is a diversified energy and utility company with $30 billion in assets and operations in 25 states. The company operates regulated utilities, electricity generation, and natural gas storage through three primary lines of business. Iberdrola USA Networks includes eight electric and natural gas utilities serving 3.1 million customers in New York and New England. Iberdrola Renewables operates 6.3 gigawatts of electricity capacity, primarily through wind power, in states across the U.S. Iberdrola Energy Holdings operates 120 Bcf of owned or contracted natural gas storage and hub service facilities in the South and West. AVANGRID employs 7,000 people. The company was formed as a business combination between Iberdrola USA and UIL Holdings in 2015. AVANGRID remains an affiliate of the Iberdrola Group, a worldwide leader in the energy industry.

Media Contacts:

Art Sasse, Iberdrola Renewables, 503-796-7740

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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