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10/31/2019

Statement on BOEM Auction No. ATLW-7 — Offshore Wind Lease North Carolina (Kitty Hawk)

Statement on BOEM Auction No. ATLW-7 — Offshore Wind Lease North Carolina (Kitty Hawk)

Click Here  for a PDF version of this press release.

March 16, 2017

Portland, Ore. — James P. Torgerson, CEO of AVANGRID, Inc. (NYSE: AGR), issued the following statement regarding the U.S. Bureau of Ocean Energy Management’s (BOEM) declaration of Avangrid Renewables as the preliminary winner of today’s auction for 122,405 acres off the coast of Kitty Hawk, N.C., for development as an offshore wind energy facility.

We are very excited about this opportunity for Avangrid Renewables to play a leading role in the growing U.S. offshore wind industry, a reliable source of clean energy that has significant job-creation potential in North Carolina and the United States.

Avangrid Renewables has a proven track record of clean energy development, with approximately 6.5 gigawatts of wind, solar and other renewable generation facilities in service or under development in 20 U.S. states.

Between our leading position in the United States, including North Carolina, where we operate a wind farm near Elizabeth City, along with the expertise and experience of our international affiliate, Iberdrola Group, in developing offshore wind in Europe, we felt we were well positioned to secure this bid.

We are confident in our ability to leverage those channels, along with our supply chain knowledge and our development and transmission expertise, in order to deliver a competitively priced product to our eventual customers.

We salute the U.S. Bureau of Ocean Energy Management and the Department of the Interior for the professional manner in which they went about the bidding process, reflected by the initial large number of parties that pre-qualified to bid. We are excited to undertake the enormous task before us in bringing this project to fruition, and confident in its completion.


About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving 3.1 million customers in New York and New England. Avangrid Renewables operates 6.3 gigawatts of electricity capacity, primarily through wind power, in states across the United States. AVANGRID employs 7,000 people. The company was formed by a merger between Iberdrola USA and UIL Holdings Corporation in 2015. IBERDROLA S.A. (Madrid: IBE), a worldwide leader in the energy industry, owns 81.5% of AVANGRID. For more information, visit www.avangrid.com.

About Avangrid Renewables:: Avangrid Renewables, LLC is a subsidiary of AVANGRID, Inc. (NYSE: AGR) 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. Avangrid 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 20 U.S. states. For more information, visit www.avangridren.com.


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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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