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Statement on BOEM Auction No. ATLW-7 — Offshore Wind Lease North Carolina (Kitty Hawk)


Click Here for a PDF version of this press release.

March 16, 2017

Portland, Ore. — James P. Torgerson, CEO of AVANGRID, Inc. (NYSE: AGR), issued the following statement regarding the U.S. Bureau of Ocean Energy Management’s (BOEM) declaration of Avangrid Renewables as the preliminary winner of today’s auction for 122,405 acres off the coast of Kitty Hawk, N.C., for development as an offshore wind energy facility.

We are very excited about this opportunity for Avangrid Renewables to play a leading role in the growing U.S. offshore wind industry, a reliable source of clean energy that has significant job-creation potential in North Carolina and the United States.

Avangrid Renewables has a proven track record of clean energy development, with approximately 6.5 gigawatts of wind, solar and other renewable generation facilities in service or under development in 20 U.S. states.

Between our leading position in the United States, including North Carolina, where we operate a wind farm near Elizabeth City, along with the expertise and experience of our international affiliate, Iberdrola Group, in developing offshore wind in Europe, we felt we were well positioned to secure this bid.

We are confident in our ability to leverage those channels, along with our supply chain knowledge and our development and transmission expertise, in order to deliver a competitively priced product to our eventual customers.

We salute the U.S. Bureau of Ocean Energy Management and the Department of the Interior for the professional manner in which they went about the bidding process, reflected by the initial large number of parties that pre-qualified to bid. We are excited to undertake the enormous task before us in bringing this project to fruition, and confident in its completion.


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About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving 3.1 million customers in New York and New England. Avangrid Renewables operates 6.3 gigawatts of electricity capacity, primarily through wind power, in states across the United States. AVANGRID employs 7,000 people. The company was formed by a merger between Iberdrola USA and UIL Holdings Corporation in 2015. IBERDROLA S.A. (Madrid: IBE), a worldwide leader in the energy industry, owns 81.5% of AVANGRID. For more information, visit www.avangrid.com.

About Avangrid Renewables:: Avangrid Renewables, LLC is a subsidiary of AVANGRID, Inc. (NYSE: AGR) and the U.S. renewable energy division of parent company IBERDROLA, S.A., an energy pioneer with the largest renewable asset base of any company in the world. Avangrid Renewables, LLC is headquartered in Portland, Ore., and has more than $10 billion of operating assets totaling more than 6,000 MW of owned and controlled wind and solar generation in 20 U.S. states. For more information, visit www.avangridren.com.



Media Contacts

Art Sasse
Art.Sasse@avangrid.com
503.796.7740

Michael A. West, Jr.
Michael.West@avangrid.com
203.499.3858