AVANGRID Celebrates 5-Year Anniversary
Marks milestone by virtually ringing the closing bell at NYSE, while charting path to grow as leading clean energy company
ORANGE, Conn. – December 17, 2020 – AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, will virtually ring the closing bell in a ceremony at the New York Stock Exchange to celebrate the company’s fifth anniversary as it looks forward to continuing to do its part to make a clean energy future a reality.
“It’s great to celebrate five years and I’m optimistic about the future. This is an exciting time for our company as the world transitions to cleaner, more efficient energy sources,” said Dennis Arriola, AVANGRID CEO. “With electric and gas companies serving millions of customers, two of the biggest clean energy projects in the Northeast U.S. and a leading renewables fleet, AVANGRID has the scale, experience, financial strength and talent to help bring this country into the next generation of clean and connected energy.”
AVANGRID’s businesses – along with pursuing the nation’s first commercial-scale offshore wind project through joint venture Vineyard Wind – are investing $20 billion over the next five years in new, cleaner energy technologies in the U.S. These investments will upgrade the company’s utility systems in order to provide safe and reliable energy to the customers who have depended on AVANGRID’s companies for more than a century and expand its fleet of clean energy generation.
“What drives us is our people - their commitment to safely and reliably serving our communities, their passion for new ideas and innovation and their focus on making every day better. This year in particular, I have seen our team come together to achieve great things in a very challenging time,” said Arriola.
With more than 6,500 employees, AVANGRID has U.S renewable assets of approximately 7.45 gigawatts (“GW”) spread over 22 states and serves 3.3 million electric and natural gas customers with a rate base of approximately $10.4 billion.
AVANGRID’s recent agreement to merge with Albuquerque-based PNM Resources will further strengthen the company’s leadership position, building on both companies’ strategic commitments to customer service and environmental goals.
AVANGRID has been consistently recognized externally by Ethisphere, Forbes, and others for its leadership in ethics, the environment, the communities it serves and for being an employer of choice, and was the first U.S. utility to set a goal for carbon-neutrality, which it is on track to achieve by 2035. The company also plans to increase renewable installed capacity by more than 110 percent over 2015 levels by 2025, building upon a sustainable business model and strategy that is centered on stewardship around ESG+F – the environment, society, and the company’s governance and financial strength.
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.