Avangrid Renewables signs PPA with Nike for portion of new Texas Gulf Coast Wind Farm
January 18, 2018
PORTLAND, Ore. — Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR) announced today that it has signed its second major wind contract with Nike, this time for 86 megawatts of Texas wind power.
The power purchase agreement (PPA) will cover the remaining portion of Avangrid Renewables 286 megawatt Karankawa Wind Farm in Bee and San Patricio counties, just east of Mathis, Texas, along I-37. Previously Austin Energy announced its own Karankawa related PPA with Avangrid Renewables for 200 megawatts. The Karankawa wind farm will produce enough energy each year to power the equivalent of more than 75,000 average households with carbon free energy.
“Working with partners like Nike who have relentless focus on driving the development and availability of renewable energy is exciting and inspiring,” said Barrett Stambler, Avangrid Renewables Vice President of Origination. “This partnership allows us to have a very positive impact in the local communities where we own and operate these wind farms, creating jobs & economic development for rural America and advancing our country’s energy independence.”
“With this agreement, Nike will source 100% renewable energy across our owned or operated facilities in North America,” said Hannah Jones, Nike’s Chief Sustainability Officer and VP, Innovation Accelerator. Moreover, we will deliver on more than 50% of our commitment to source 100% renewable energy in our owned or operated facilities worldwide by the end of FY25. Investing in renewable energy is good for athletes, the planet and for business, and we will continue to drive collaboration to accelerate a low-carbon growth economy.”
Avangrid Renewable’s previous PPA with Nike involved three Columbia Gorge based wind farms delivering 100% renewable energy to its worldwide headquarters near Beaverton, OR and nearly all of its Oregon based facilities.
In addition to this new project, Avangrid Renewables already owns and operates the 605 MW South Texas Coast Complex along the Gulf Intracoastal Waterway and the 120 MW Barton Chapel Wind Farm in Mid-West Texas. Upon Karankawa’s COD, the company will own and operate more than a gigawatt of commercial wind power in Texas. Avangrid Renewables is finalizing its development work with the local Texas counties where Karankawa will reside and plans to start construction in the Fall of 2018.
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.