Avangrid Inc Stock Price, News & Analysis

AVANGRID (NYSE: AGR) has partnered with the Navajo Tribal Utility Authority (NTUA) to explore the feasibility of developing up to 1 GW of renewable energy projects within the Navajo Nation across New Mexico and Arizona. This collaboration aims to assess wind, solar, and battery storage solutions that promise new jobs and economic development. AVANGRID's CEO, Pedro Azagra, emphasized the potential positive impact on local communities, highlighting their commitment to clean energy. The partnership aligns with the Inflation Reduction Act, aiming to enhance the clean energy economy and subsequent revenue for the region. NTUA's General Manager, Walter Haase, expressed optimism regarding the transformative potential of this initiative, enhancing energy access for Navajo Nation residents.

Ignacio Galán, Chairman of AVANGRID and Iberdrola, received the Medal of Honor from the World Jurist Association on April 13 at the United Nations in New York. Recognized for his leadership in clean energy and ESG principles, Galán emphasized the importance of an energy transition involving all sectors. Over his tenure, Iberdrola has invested €140 billion, achieving a renewable capacity of 40,000 MW while committing to carbon neutrality by 2030 and net-zero emissions by 2040. The company is now the second largest electricity utility by market cap, with plans for €47 billion in investments from 2023 to 2025 to support its Climate Action Plan. Galán’s recognition underscores Iberdrola's role in the renewable energy landscape.

AVANGRID, Inc. (NYSE: AGR) has extended its merger agreement with PNM Resources (NYSE: PNM) until July 20, 2023, allowing more time for regulatory review in New Mexico. AVANGRID’s CEO, Pedro Azagra, stated that the merger is expected to generate over $300 million in benefits for New Mexico and $16 million in rate relief for Texas customers. The merger has gained approval from five federal agencies and the Public Utility Commission of Texas. The companies recently filed a motion in the New Mexico Supreme Court to dismiss an appeal regarding a previous regulatory decision. AVANGRID aims to enhance clean energy prospects and economic development in the regions served.

AVANGRID, Inc. (NYSE:AGR) has announced a quarterly dividend of $0.44 per share, which will be payable on July 3, 2023. Shareholders on record as of June 1, 2023 are eligible for this dividend. Headquartered in Orange, CT, AVANGRID operates with approximately $41 billion in assets across 24 U.S. states, focusing on both networks and renewable energy sectors. The company serves over 3.3 million customers through its utility operations and has been recognized for its commitment to sustainability and corporate ethics in recent years.

AVANGRID has joined the California Independent System Operator’s Western Energy Imbalance Market (WEIM) as the first generation-only entity. This milestone enhances the energy system across 11 Western states, utilizing nearly 2 GW of installed emissions-free capacity. The collaboration aims to improve operational efficiencies, ensuring affordable and reliable energy supply to customers. As a leading sustainable energy company, AVANGRID operates significant renewable energy assets in the U.S., serving over 3.3 million customers through its utilities. The company emphasizes its commitment to facilitating the country’s energy transition.

AVANGRID, Inc. (NYSE:AGR) will release its Q1 2023 financial results on April 25, 2023, after market close. A subsequent advisory news release will be issued that evening. The company will hold a conference call on April 26, 2023, at 10:00 AM ET, where the executive team will provide an overview of the results followed by a Q&A session. AVANGRID operates across 24 U.S. states, serving over 3.3 million customers through its electric and gas utilities, with a focus on renewable energy. With assets totaling approximately $41 billion, the company strives to lead in sustainable energy solutions.

AVANGRID (NYSE: AGR) has signed a power purchase agreement with Meta for renewable energy from the True North solar farm, a 240 MW project in Falls County, Texas. This agreement marks AVANGRID's first solar installation in Texas, aiming to supply clean energy to support Meta's operations, particularly its data center in Temple, Texas. The project is set to create over 200 local jobs and contribute over $40 million in property taxes over 25 years. True North is expected to reach commercial operations by early 2025 and is part of AVANGRID's larger renewable energy portfolio of over 8.6 GW capacity.

AVANGRID (NYSE: AGR) is developing two new solar farms, Texas True North and Ohio Powell Creek, expected to generate a total of 523.5 MW of clean power. True North will produce 321 MW and create over 200 jobs in Texas while paying over $40 million in property taxes over 25 years. Powell Creek will generate 202.5 MW, powering more than 30,000 homes and creating up to 400 jobs in Ohio with an estimated revenue impact of over $38 million for local communities. With an overall portfolio of 8.6 GW in renewable energy capacity, AVANGRID continues to be a significant player in the U.S. renewable energy sector.