Avangrid Renewables Signs PPA with Nike for Portion of New Texas Gulf Coast Wind Farm
Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR) announced today that it has signed its second major wind contract with Nike, this time for 86 megawatts of Texas wind power.
The power purchase agreement (PPA) will cover the remaining portion of Avangrid Renewables 286 megawatt Karankawa Wind Farm in Bee and San Patricio counties, just east of Mathis, Texas, along I-37. Previously Austin Energy announced its own Karankawa related PPA with Avangrid Renewables for 200 megawatts. The Karankawa wind farm will produce enough energy each year to power the equivalent of more than 75,000 average households with carbon free energy.
“Working with partners like Nike who have relentless focus on driving the development and availability of renewable energy is exciting and inspiring,” said Barrett Stambler, Avangrid Renewables Vice President of Origination. “This partnership allows us to have a very positive impact in the local communities where we own and operate these wind farms, creating jobs & economic development for rural America and advancing our country’s energy independence.”
“With this agreement, Nike will source 100% renewable energy across our owned or operated facilities in North America,” said Hannah Jones, Nike’s Chief Sustainability Officer and VP, Innovation Accelerator. “Moreover, we will deliver on more than 50% of our commitment to source 100% renewable energy in our owned or operated facilities worldwide by the end of FY25. Investing in renewable energy is good for athletes, the planet and for business, and we will continue to drive collaboration to accelerate a low-carbon growth economy.”
Avangrid Renewable’s previous PPA with Nike involved three Columbia Gorge based wind farms delivering 100% renewable energy to its worldwide headquarters near Beaverton, OR and nearly all of its Oregon based facilities.
In addition to this new project, Avangrid Renewables already owns and operates the 605 MW South Texas Coast Complex along the Gulf Intracoastal Waterway and the 120 MW Barton Chapel Wind Farm in Mid-West Texas. Upon Karankawa’s COD, the company will own and operate more than a gigawatt of commercial wind power in Texas. Avangrid Renewables is finalizing its development work with the local Texas counties where Karankawa will reside and plans to start construction in the Fall of 2018.
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) is an energy pioneer with the largest renewable asset base of any company in the world. Avangrid Renewables, LLC is headquartered in Portland, Ore. For more information, visit www.avangridren.com.
Art Sasse, 503-796-7740
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