Avangrid Statement on Announcement of Northeast States Regional Procurement for Offshore Wind Power

ORANGE, Conn.--(BUSINESS WIRE)--Pedro Azagra, CEO of Avangrid, Inc (NYSE: AGR), today issued the following statement on announcement of northeast states regional procurement for offshore wind power:

“Avangrid commends Governor Maura Healey, Governor Ned Lamont, and Governor Daniel McKee for their forward-thinking and collaborative approach in announcing that Massachusetts, Connecticut, and Rhode Island will move forward with joint regional procurement for 6,000 megawatts of offshore wind power. At this critical time for the industry in the United States, as well as the rapid acceleration of the climate crisis, this bold procurement strategy rises to the level of urgency the moment demands while providing offshore wind developers an opportunity to leverage economies of scale that will unlock more competitive bids and the potential for greater investments in local development and job creation.

“We look forward to reviewing the final details of the procurement structure and to building on our success leading the development of the nation’s first utility scale offshore wind project, Vineyard Wind 1, which is currently moving forward with turbine installation campaign with the goal of delivering first power this year.

“We are grateful to the northeast states for their commitment to advancing the President’s ambitious 30 Gigawatt by 2030 goal, and for the support of our federal partners and the Biden Administration.”

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $41 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 more than 7,500 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, Avangrid ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2023 for the fifth 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.