Avangrid and Statkraft Sign Second Virtual Power Purchase Agreement (VPPA) In the Past Nine Months

Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, and Statkraft, Europe’s largest producer of renewable energy, today announced the signing of a short-term Virtual Power Purchase Agreement (VPPA) for energy from Avangrid’s 35 MW Casselman wind farm in Pennsylvania. This marks the second such deal between the two companies within the past nine months as they strengthen their growing relationship in the United States.

Earlier this year, Avangrid and Statkraft announced a short-term VPPA for Avangrid’s 300 MW Streator Cayuga Ridge South wind farm in Illinois. Statkraft and Iberdrola, S.A., Avangrid’s parent company, have a Power Purchase Agreement (PPA) in place for energy produced at Iberdrola’s Korytnica II wind farm in Poland.

“We are happy to continue building our U.S. relationship with Statkraft, a clean energy leader that aligns with our sustainability goals at Avangrid,” said Pedro Azagra, Avangrid CEO. “This is further proof of an interested market for our productive merchant assets as we manage risk within our existing portfolio of projects. Additionally, partners like Statkraft are key to executing on our commitment to accelerating the clean energy transition.”

”Power purchase agreements are a key driver in moving the green transition forwards”, said Patrick Pfeiffer, Managing Director of Statkraft's operations in the United States. “As the demand for clean energy grows in the US, so does the need for providers like Statkraft: We are proud to support our partner Avangrid with long-term certainty, needed to thrive in a competitive market.”

The Casselman wind project reached commercial operations in 2007 and is located about 60 miles southeast of Pittsburgh near the towns of Meyersdale and Rockwood. The plant’s 23 wind turbines, with a combined capacity of 35 MW, are located on top of and near a rehabilitated surface mine and bring clean energy jobs to the region.

Media Contact Avangrid

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