Avangrid Foundation and AVANGRID Employees Commit up to $150,000 for Texas Disaster Relief
Orange, Conn. — February 23, 2021 — The Avangrid Foundation, the primary philanthropic arm of sustainable energy company AVANGRID, Inc. (NYSE: AGR), today announced a commitment of up to $150,000 to support American Red Cross (“Red Cross”) disaster relief efforts in direct funds and matching gifts from employees. The Foundation’s commitment includes an immediate $50,000 grant to the Red Cross and a further $50,000 to match employee contributions to the Red Cross through March 15th, 2021.
“We are committed to supporting our communities as they recover from this unprecedented winter weather,” said Alejandro de Hoz, president and CEO of Avangrid Renewables. “These funds will go toward providing immediate support for those displaced by this weather event.”
Avangrid Renewables has a significant footprint in Texas with six wind farms with a total generating capacity of over 1,200 megawatts, mostly located in south Texas near the Gulf Coast. Through proactive and prudent risk management, the company was able to meet all delivery obligations and contribute to the solution for Texas and customers during this critical period.
“As a long-time American Red Cross disaster responder partner, we know that in times of crisis big and small, the Red Cross is the first to bring hope and help to vulnerable people and communities,” said Nicole Licata Grant, executive director of the Avangrid Foundation. “The Avangrid Foundation is committed to supporting their exceptional disaster relief work, including helping Texans recover from displacement, loss and the impacts of extreme weather.”
“We are very grateful for AVANGRID’s generous support of our disaster relief efforts,” said Mario Bruno, CEO, American Red Cross Connecticut and Rhode Island. “AVANGRID is a valued longstanding partner of the Red Cross and we give our thanks for their continued commitment to bring comfort and hope to those in need.”
This emergency funding is in addition to the Avangrid Foundation’s support of the Red Cross as a national disaster relief partner and brings the Foundation’s total 2021 giving to the Red Cross to $300,000, not including employee matching funds. This gift enables the Red Cross to prepare for, respond to, and help people recover from disasters big and small.
About Avangrid Foundation: The Avangrid Foundation is an independent, nonprofit organization that funds philanthropic investments that primarily impact communities where AVANGRID, Inc. and its subsidiaries operate. Since 2002, the Avangrid Foundation and its predecessors have invested more than $28 million in partnerships that focus on building sustainable, vital and healthy communities; preserving cultural and artistic heritage; advancing education; and improving people’s lives. The Avangrid Foundation is committed to advancing the United Nations Sustainable Development Goals in the United States. For more information, please visit www.avangridfoundation.org.
About Avangrid Renewables: Avangrid Renewables, LLC is a subsidiary of AVANGRID, Inc. and part of the IBERDROLA Group. It is a leading renewable energy company in the United States, owning and operating a portfolio of renewable energy generation facilities. IBERDROLA, S.A., is an energy pioneer with the largest renewable asset base of any company in the world. Avangrid Renewables is headquartered in Portland, Oregon. For more information, visit www.avangridrenewables.com.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $36 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For more information, visit www.avangrid.com.