Avangrid and CPS Energy Extend and Expand Relationship with Power Purchase Agreement (PPA) for Energy from Texas Wind Farm
05 6월 2024 - 4:36AM
Business Wire
CPS Energy to receive enough energy from
Peñascal I Wind Power Project to power about 41,000 Texas homes on
a hot summer day
Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company
and member of the Iberdrola Group, today announced the signing of a
Power Purchase Agreement (PPA) with CPS Energy, the nation’s
largest community-owned provider of electric and natural gas
services, for a 161-Megawatt (MW) portion of Avangrid’s Peñascal I
wind farm in Kenedy County, Texas south of Baffin Bay.
This represents an extension and expansion of a previous 15-year
agreement between the two companies for energy from Peñascal I. CPS
Energy more than doubled its power offtake from the project –
increasing from 77 MW to 161 MW – and will now receive almost 80%
of the power generated there. Avangrid is supplying CPS Energy with
enough energy from Peñascal I to power about 41,000 Texas
homes.
“This is another great example of Avangrid working closely with
our partners to continue delivering clean, reliable energy to
customers,” said Pedro Azagra, Avangrid CEO. “In this case, we are
growing our already strong relationship with CPS Energy to support
their growing customer base while managing merchant risk at one of
our existing wind facilities. Partnerships like this are critical
to supporting a clean energy transition in Texas and beyond.”
“Growing our portfolio of renewable energy brings us closer to
realizing our Vision 2027 goals,” said Rudy D. Garza, President and
CEO of CPS Energy. “This expansion is an exciting step in our
renewable energy commitments and is well-aligned with our approved
generation plan.”
The additional 84 MW of wind power supports CPS Energy’s Vision
2027 plan that contemplates the retirement of 2,249 MW of older
generation capacity before 2030. These efforts also align with CPS
Energy’s commitment to the City of San Antonio’s Climate Action
& Adaptation Plan (CAAP), which includes a resolution by the
CPS Energy Board of Trustees to support the CAAP’s goal to become
carbon neutral by 2050, and the interim goals of reducing
greenhouse gas emissions by 41% from 2016 levels and 71% by
2040.
Peñascal I was the first wind power project on the Texas coast,
reaching commercial operations in 2009. It includes 84 turbines
that generate a total of 202 MW of renewable energy and supports 16
permanent employees in the community. Additionally, Peñascal I has
paid nearly $30 million in property taxes since being built, which
is used for public services like education.
Avangrid developed this project in a way that minimizes
environmental impacts on birds, wildlife and wetlands. Before
construction began, Avangrid partnered with wildlife biologists who
spent more than 4,000 hours in the field studying the site and
avian patterns during a wide variety of weather conditions.
Information gleaned from the studies showed that Peñascal I has
minimal impact on the environment and wildlife.
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be
the leading sustainable energy company in the United States.
Headquartered in Orange, CT with approximately $45 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 as one of the JUST
100 companies – a ranking of America’s best corporate citizens – in
2024 for the fourth consecutive year. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240604807021/en/
Keaton Thomas Keaton.thomas@avangrid.com 503-956-9621
Avangrid (NYSE:AGR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Avangrid (NYSE:AGR)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024