Avangrid Inc Stock Price, News & Analysis

AVANGRID Inc. (NYSE: AGR) and Prysmian Group have announced a significant agreement to develop a new offshore wind cable manufacturing facility at the former Brayton Point coal plant in Somerset, Massachusetts. This facility will support AVANGRID's Commonwealth Wind project, encompassing 1,232 Megawatts (MW) of capacity. The facility represents a $200 million investment and aims to create over 150 high-skilled jobs, contributing to local economies and the transition to clean energy.

Commonwealth Wind, selected in December 2021, is expected to power 750,000 homes and create 11,000 jobs over its lifecycle.

AVANGRID, Inc. (NYSE: AGR) has declared a quarterly dividend of $0.44 per share on its Common Stock, payable on April 1, 2022 to shareholders on record by March 1, 2022. The company operates across 24 U.S. states, boasting approximately $39 billion in assets and serving over 3.3 million customers through its utilities in New York and New England. Recognized for its commitment to sustainability, AVANGRID has been ranked among America’s best corporate citizens.

AVANGRID (NYSE: AGR) announced that Security Limits, Inc. has voluntarily dismissed its defamation case against the company and its major shareholder, Iberdrola, S.A. Security Limits offered no evidence or sworn testimony to support its accusations, which AVANGRID has consistently asserted are unfounded. Although the New York case is dismissed, AVANGRID is pursuing defamation claims against Security Limits in New Mexico. AVANGRID maintains its commitment to ethical business practices, having been recognized as one of the World’s Most Ethical Companies for three consecutive years.

AVANGRID, Inc. (NYSE:AGR) will release its fourth quarter and full year 2021 financial results on February 22, 2022, after market close. The advisory news release will provide a link to the financial results posted on their website. A webcast conference call for analysts will follow on February 23, 2022, at 10:00 A.M. ET, featuring an overview of the results and a Q&A session. AVANGRID operates in 24 states with $39 billion in assets, focusing on sustainable energy through its Networks and Renewables segments.

Avangrid Renewables has appointed Ken Kimmell as Vice President of Development for Offshore Wind, effective immediately. Kimmell will focus on permitting, stakeholder relations, and project development for the company's offshore wind initiatives. He brings over 30 years of expertise in energy and environmental issues, previously serving as president of the Union of Concerned Scientists. Kimmell expressed enthusiasm for addressing climate change through offshore wind projects that gain public support and offer benefits to coastal communities.

AVANGRID (NYSE: AGR) expressed support for the upcoming auction by the Bureau of Energy and Ocean Management for offshore wind lease areas in the New York Bight, scheduled for February 23, 2022. With a robust offshore wind project portfolio of 4.9 GW, including projects like Vineyard Wind 1 and Commonwealth Wind, AVANGRID aims to advance clean energy and community benefits. The company emphasizes its commitment to sustainable energy development, workforce initiatives, and marine protections as integral to its project execution.

Avangrid Renewables has successfully restructured its Vineyard Wind joint venture, positioning itself as the largest offshore wind supplier in New England. With a robust offshore wind pipeline totaling 4.9 GW, the company aims to power over 2 million households. Key projects include Park City Wind (804 MW), Commonwealth Wind (1232 MW), and the Vineyard Wind 1 (800 MW). The leadership team has been enhanced, with plans to add up to 100 professionals next year, strengthening their capacity in a growing sector.