40,000 acre lease area could support 800 MW of
offshore wind generation energy
Transaction value of approximately $160 million
expected to close in fourth quarter of 2024
Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company
and member of the Iberdrola Group, today announced an agreement for
the sale of the Kitty Hawk North offshore wind lease area to
Dominion Energy. The agreement, which includes the Kitty Hawk North
offshore wind lease area and associated assets, is for a sale of
approximately $160 million, inclusive of a payment of about $3,000
per acre for the nearly 40,000-acre lease. The sale price consists
of a lease acquisition payment of $117 million and associated
development cost reimbursement to Avangrid.
“As Avangrid continues the construction of our nation-leading
Vineyard Wind 1 project and the development of our diverse
portfolio of offshore and onshore renewable projects, this
transaction advances our strategic priorities by providing
significant capital infusion for reinvestment,” said Avangrid
CEO Pedro Azagra. “Executing this agreement allows us to move
forward with our long-term plans for the development of Kitty Hawk
South, further demonstrating our commitment to accelerating the
clean energy transition in the United States.”
Avangrid retains the ownership and associated rights to the
Kitty Hawk South lease, and will continue the development of the
area, which has the potential to deliver up to 2.4 Gigawatts of
power to North Carolina, Virginia, or other states or private
companies.
As one of the largest renewable energy developers in the nation,
Avangrid has an 8.8 Gigawatt portfolio of more than 75 wind and
solar facilities in 25 states, generating enough energy to power
over 2.8 million homes across the country.
Avangrid is building the nation’s first large-scale offshore
wind project, Vineyard Wind 1, currently under construction 15
miles south of Martha’s Vineyard. On June 26, 2024, Avangrid
announced that it has placed 10 turbines into production for the
project, making Vineyard Wind 1 the largest operating offshore wind
farm in the U.S.
Avangrid is also developing the New England Wind lease area,
which received a favorable Record of Decision from the Department
of the Interior in April 2024, followed by the approval of its
Construction and Operations Plan in July 2024.
In March 2024, Avangrid submitted multiple proposals for the New
England Wind projects to the Massachusetts-Rhode Island-Connecticut
Multi-State Procurement for Offshore Wind. The states are
anticipated to announce selected projects from the competitive
procurement in August 2024.
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.
Forward-Looking
Statements
Certain statements in this report may relate to our future
business and financial performance and future events or
developments involving us and our subsidiaries that are not purely
historical and may constitute “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements may be identified by the use of
forward-looking terms such as “may,” “will,” “should,” “would,”
“could,” “can,” “expect(s),” “believe(s),” “anticipate(s),”
“intend(s),” “plan(s),” “estimate(s),” “project(s),” “assume(s),”
“guide(s),” “target(s),” “forecast(s),” “are (is) confident that”
and “seek(s)” or the negative of such terms or other variations on
such terms or comparable terminology. These forward-looking
statements generally include statements regarding the potential
transaction Avangrid and Dominion Energy, including any statements
regarding the expected timetable for completing the potential
transaction, the ability to complete the potential transaction, the
expected benefits of the potential transaction, the continued
development of Kitty Hawk South and its estimated future capacity,
Avangrid’s total generation capacity, the operating status and
future capacity of Vineyard Wind 1, the development of the New
England Wind lease area, and any other statements regarding
Avangrid’s future expectations, beliefs, plans, objectives, results
of operations, financial condition and cash flows, or future events
or performance. Readers are cautioned that all forward-looking
statements are based upon current reasonable beliefs, expectations
and assumptions and may influenced by many factors, which are often
beyond Avangrid’s control, that can cause actual results to differ
from those expressed or implied by the forward-looking statements.
For a discussion of risk factors and other important factors
affecting forward-looking statements, please see Avangrid’s Annual
Reports on Form 10-K and Quarterly Reports on Form 10-Q filings and
the information filed on Avangrid’s Forms 8-K with the SEC as well
as its subsequent SEC filings, and the risks and uncertainties
related to the proposed transaction, including, but not limited to:
the expected timing and likelihood of completion of the proposed
transaction, including the timing, receipt and terms and conditions
of any regulatory approvals of the proposed transaction or other
third-party consents or approvals, the ability of Avangrid and
Dominion Energy to satisfy other conditions to closing, timely
performance by third parties under existing or future contracts, or
the occurrence of severe weather events. Other unpredictable or
unknown factors not discussed in this communication could also have
material adverse effects on forward-looking statements. Should one
or more of these risks or uncertainties materialize, or should any
of the underlying assumptions prove incorrect, actual results may
vary in material respects from those expressed or implied by these
forward-looking statements. You should not place undue reliance on
these forward-looking statements. Avangrid does not undertake any
obligation to update or revise any forward-looking statements to
reflect events or circumstances after the date of this report,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws. Other
risk factors are detailed from time to time in Avangrid’s reports
filed with the SEC and we encourage you to consult such
disclosures.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240708565722/en/
Media: Kimberly Harriman (203) 203-4481
Kimberly.Harriman@avangrid.com
Avangrid (NYSE:AGR)
과거 데이터 주식 차트
부터 9월(9) 2024 으로 10월(10) 2024
Avangrid (NYSE:AGR)
과거 데이터 주식 차트
부터 10월(10) 2023 으로 10월(10) 2024