In observance of Earth Day, AVANGRID, Inc. (NYSE: AGR), a leading
diversified energy company, today released its 2018
Sustainability Report, demonstrating its purpose of working together
to deliver a more accessible clean energy model that promotes healthier,
more sustainable communities every day.
AVANGRID, recently named among the World’s Most Ethical companies by the
Ethisphere Institute, is one of the cleanest U.S. energy companies,
operating one of the nation’s largest renewable fleets, with 89% of the
installed generation capacity emissions-free.
The 2018 Sustainability Report, titled “A New Generation of Energy,”
benchmarks AVANGRID’s sustainability performance across economic,
environmental, social and governance perspectives.
“Our industry is in the midst of a transformational shift in how energy
is generated, delivered and consumed,” AVANGRID CEO James P. Torgerson
said.
“Demand for clean energy solutions and the continued adoption of
innovations like electric vehicles, smart grids and battery storage
represent more than business opportunities; they are the drivers of a
potentially disruptive shift that requires us to act — right now — to
remain at the vanguard of our industry. The 2018 Sustainability Report
showcases our efforts to meet these challenges and further establish
AVANGRID as a leader for sustainable energy in the United States.”
Among the 2018 achievements highlighted in the report:
-
Avangrid Networks subsidiary Central Maine Power’s $950 million New
England Clean Energy Connect proposal won a Massachusetts RFP to
deliver clean energy to the New England grid. Avangrid Renewables
offshore wind joint venture Vineyard Wind, was chosen to provide 800
megawatts (MW) of wind generating capacity to Massachusetts utilities.
Both projects combined will allow customers to avoid emissions
equivalent to removing approximately one million cars from the road
every year.* -
The company achieved emissions intensity in 2018 of 54 grams of carbon
dioxide (CO2) per kilowatt-hour of electricity produced —
approximately a 15% reduction compared with 2015 and eight times lower
than the 2018 U.S. utility average. This is in line with AVANGRID’s
goal to reduce CO2 emissions intensity from its power
plants 25% by 2020, compared with a 2015 baseline, and achieve 100%
carbon neutrality by 2035. -
The 16,986 gigawatt-hours of electricity produced by Avangrid
Renewables’ wind and solar facilities allowed customers to avoid 12
million metric tons of carbon dioxide emissions — roughly equivalent
to emissions avoided by removing 2.55 million cars from the road for a
year*. Avangrid Renewables added nearly 1 gigawatt (GW) of wind and
solar long-term contracts in 2018, and mobilized construction of 989
MW of projects for commissioning in 2019. -
Avangrid Networks announced a $2.5 billion Transforming Energy
resiliency plan to harden and modernize the New York and New England
power grids.
To learn more about AVANGRID achievements, long-term sustainability
vision, goals and to view the entire
report, please visit www.avangrid.com.
* The environmental and green attributes attributable to the electric
generation from Avangrid Renewables’ facilities have been or likely will
be sold or transferred to third parties, who are solely entitled to the
reporting and other rights to all renewable energy credits, emissions
reductions, offsets, allowances and the avoided emissions of greenhouse
gas pollutants, collectively environmental attributes. Avangrid
Renewables is not claiming ownership of any environmental attributes
from its renewable generation fleet for any purpose, including
compliance with any federal or state law or reporting to any federal or
state agency, or any other present or future federal, state, local,
international, foreign, or voluntary renewable energy, emission
reduction or emissions trading program.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading,
sustainable energy company with approximately $32 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 eight electric and natural gas utilities, serving 3.2 million
customers in New York and New England. Avangrid Renewables owns and
operates 7.2 gigawatts of electricity capacity, primarily through wind
power, with a presence in 22 states across the United States. AVANGRID
employs approximately 6,500 people. AVANGRID supports the U.N.’s
Sustainable Development Goals and was named among the World’s Most
Ethical Companies in 2019 by the Ethisphere Institute. For more
information, visit www.avangrid.com.
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