PORTLAND, Ore.--(BUSINESS WIRE)--Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced its first renewable energy project in Oklahoma. Pontotoc Wind, a 147.5 MW wind farm with 33 turbines, powering 40,000 homes, will be constructed in Pontotoc County, Oklahoma and expand Avangrid’s presence in the U.S. to 25 states.
“We are thrilled to be developing our first renewable energy project in Oklahoma, that will deliver clean, renewable, wind power to the Pontotoc County community along with jobs and local investment,” said Pedro Azagra, Avangrid CEO. “With Pontotoc Wind, we are helping to accelerate a clean energy transition in the state and across the U.S.”
Pontotoc Wind will generate about 500,000 MWh of power each year, enough energy to power more than 40,000 homes.
Construction is expected to begin in 2024 and will produce more than 200 jobs. Avangrid expects the project will contribute to the surrounding area for more than 20 years, including local jobs to support wind farm operations and other community investment. Additionally, Pontotoc Wind will contribute an estimated $25 million in property taxes over the life of the project, which benefits local schools and other services.
Avangrid worked closely with the U.S. Air Force for several years to carefully site the project in an area that protects the Air Force's mission.
With more than 8.6 GW of installed renewable capacity, Avangrid is the third-largest renewable energy operator in the U.S. Once construction is complete on this project, Avangrid will have operations or assets across half the country.
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: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,600 people and has been recognized by JUST Capital for three consecutive years as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
