AVANGRID Offers Bids for New England’s Clean Energy Future
ORANGE, Conn. — July 27, 2017 — AVANGRID, Inc. has responded to Massachusetts’ call to bring more clean energy to the New England power grid by submitting several proposals in which some are sole ownership and some are joint partnerships.
The company and its affiliates, including Avangrid Networks and Avangrid Renewables, have submitted these proposals in response to the Massachusetts Clean Energy RFP, which seeks projects that will support the commonwealth’s mandate to significantly increase access to energy from renewable sources such as wind and solar.
“We’re excited about this opportunity to expand AVANGRID’s role in the region’s clean energy future. These cost-effective projects will provide all the benefits of clean, renewable energy while helping to stabilize electricity costs, create jobs and reduce greenhouse gas emissions that contribute to global warming,” said James P. Torgerson, AVANGRID’s CEO. “We expect our proposals to be highly competitive, given our extensive experience in development of renewable generation across the United States, and in building and operating transmission and distribution grids in the Northeast.”
AVANGRID is the parent company of Avangrid Renewables, which owns and controls more than 6 gigawatts of renewable generation capacity in 22 U.S. states. Its Avangrid Networks line of business comprises eight electric and natural gas utilities, serving approximately 3.2 million customers in New York and New England.
The Massachusetts Clean Energy RFP is the outgrowth of a state law mandating that the state’s utilities procure 9.45 terawatt-hours of clean, Class 1 renewable energy through long-term contracts.
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About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates 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 more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. 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.