Avangrid and Statkraft Expand U.S. Renewable Energy Collaboration with New Pennsylvania Wind Farm Agreement

Avangrid and Statkraft Expand U.S. Renewable Energy Collaboration with New Pennsylvania Wind Farm Agreement

(IN BRIEF) Avangrid and Statkraft have signed a new Virtual Power Purchase Agreement (VPPA) for energy from the 35 MW Casselman wind farm in Pennsylvania, marking their second such deal in nine months. This agreement strengthens the partnership between the two companies, both committed to advancing the clean energy transition in the U.S. The Casselman wind farm, operational since 2007, plays a key role in the region’s renewable energy landscape while supporting local job creation.

(PRESS RELEASE) OSLO, 16-Aug-2024 — /EuropaWire/ — Avangrid, Inc. (NYSE: AGR), a prominent sustainable energy company and part of the Iberdrola Group, has announced the signing of a new Virtual Power Purchase Agreement (VPPA) with Statkraft, Europe’s leading renewable energy producer. This agreement focuses on energy generated by Avangrid’s 35 MW Casselman wind farm in Somerset County, Pennsylvania, marking the second VPPA between the two companies within the past nine months.

The Casselman wind farm, operational since 2007, is situated approximately 60 miles southeast of Pittsburgh and features 23 wind turbines. This project not only contributes to Pennsylvania’s clean energy landscape but also revitalizes the region by creating jobs and utilizing land previously occupied by a surface mine.

This latest VPPA builds on the growing collaboration between Avangrid and Statkraft in the United States. Earlier this year, the two companies entered into a similar agreement for the 300 MW Streator Cayuga Ridge South wind farm in Illinois. This partnership underscores the shared commitment of both companies to advancing the clean energy transition in the U.S. market.

“We are pleased to expand our relationship with Statkraft, a partner whose sustainability vision aligns with our own,” said Pedro Azagra, CEO of Avangrid. “This agreement not only demonstrates the strong demand for our renewable energy projects but also highlights our strategy to mitigate risk while supporting the clean energy transition.”

Patrick Pfeiffer, Managing Director of Statkraft’s U.S. operations, emphasized the importance of such agreements in driving the renewable energy movement forward: “Power purchase agreements like these are crucial in providing long-term stability for clean energy projects. We are proud to continue supporting Avangrid as they lead the way in sustainable energy development.”

The Casselman wind farm VPPA further solidifies the partnership between Avangrid and Statkraft, which also includes a Power Purchase Agreement (PPA) between Iberdrola and Statkraft for the Korytnica II wind farm in Poland. This expanding collaboration reflects the companies’ dedication to meeting the growing demand for renewable energy and fostering a sustainable future.

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Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has more than 6,000 employees in over 20 countries.

Media Contact:

Avangrid:

Keaton Thomas
Keaton.thomas@avangrid.com
503-956-9621

Statkraft:
Maike Hohlbaum
Senior Country Communications Advisor
E-mail: maike.hohlbaum@statkraft.com

SOURCE: Statkraft