PORTLAND, Ore.--(BUSINESS WIRE)--Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE:AGR) announced today that it has signed its first major wind contracts with Google, a subsidiary company of Alphabet (NASDAQ: GOOGL), for 196 megawatts of new South Dakota wind power.
The power purchase agreements will cover the full output of Avangrid Renewables’ Coyote Ridge and Tatanka Ridge Wind Farms in Brookings and Deuel counties, each 98 MW, just northeast of Brookings, east of I-29. The two wind farms would produce enough energy each year to power the equivalent of more than 50,000 average households with clean, homegrown energy. Once the wind farms come online, the additional capacity will help Google reach its goal of purchasing enough renewable energy to match its energy consumption for global operations.
“Renewables from projects like Coyote Ridge and Tatanka Ridge bring value to our business as we scale and accelerate investment in the communities where we operate,” said Gary Demasi, Google's director of global infrastructure. “With solar and wind declining dramatically in cost and propelling significant employment growth, the transition to clean energy is driving unprecedented economic opportunity and doing so faster than we ever anticipated.”
Avangrid Renewables anticipates that the two wind farms would contribute more than $40 million over their lifetimes in combined land lease and tax payments.
“Working with partners like Google who have made a commitment to 100% renewable energy for their global operations is exciting and inspiring,” said Avangrid Renewables President and CEO Laura Beane. “This partnership creates a positive impact in these local communities, delivering jobs, new investment and economic development for rural America while advancing our country’s energy independence.”
In addition to these new projects, Avangrid Renewables already owns and operates the 210 MW Buffalo Ridge II project in Brookings and Deuel counties, the 50.4 MW Buffalo Ridge I project southeast of the proposed Coyote Ridge project, and 50 MW from the 150 MW MinnDakota Wind Farm in Brookings County. Upon commercial operation for Coyote Ridge and Tatanka Ridge, the company will own and operate more than 500 MW of wind power in South Dakota. Avangrid Renewables is finalizing its development work at the Coyote Ridge and Tatanka Ridge projects and expects to be in full construction by 2019.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a diversified energy and utility company with more than $31 billion in assets and operations in 27 states. The company owns regulated utilities and electricity generation assets through two primary lines of business, Avangrid Networks and Avangrid Renewables. Avangrid Networks is comprised of eight electric and natural gas utilities, serving approximately 3.2 million customers in New York and New England. Avangrid Renewables operates more than 6 gigawatts of owned and controlled renewable generation capacity, primarily through wind and solar, in 22 states across the United States. AVANGRID employs approximately 6,800 people. For more information, visit www.avangrid.com.
About Avangrid Renewables: Avangrid Renewables, LLC is a subsidiary of AVANGRID, Inc. (NYSE: AGR) and part of the IBERDROLA Group. IBERDROLA, S.A., is an energy pioneer with the largest renewable asset base of any company in the world. Avangrid Renewables, LLC is headquartered in Portland, Ore., and recently changed its legal name from Iberdrola Renewables, LLC. For more information, visit www.avangridren.com.
