Iberdrola is a leading wind power company in the United States
Iberdrola will supply renewable energy to the city of Austin (Texas)
- Iberdrola will Iberdrola will supply renewable energy to the city of Austin over the next 15 years, from a wind farm in Texas with a 200 MW capacity
- To achieve this, Iberdrola and Austin Energy have signed a long-term power purchase agreement (PPA), through which Iberdrola will own and operate the wind farm, and the electricity generated will be supplied to this city in Texas
Iberdrola's US subsidiary AVANGRID Renewables and Austin have entered into an agreement for the long-term sale of power for the city of Austin (Texas).
Therefore, Iberdrola will generate clean energy for the city of Austin over the next 15 years, from a wind farm that will be built between 2018 and 2019 in the state of Texas. The location of the wind farm will be chosen over the next few weeks. It will have a 200 MW capacity and require an investment of almost $300M.
In the United States, contracts such as this one with Austin Energy are referred to as 'Power Purchase Agreements' (PPA) and guarantee the profitability of energy facilities in this country for the long haul.
Most of Iberdrola's wind farms in the United States were brokered through similar agreements, which have yielded great stability to the company's investments in such a strategic market, a stability that has been the bedrock for Iberdrola's commitment to the country.
In fact, Iberdrola has signed during the past few months a series of agreements with flagship US multinationals, which have chosen the company to supply green energy to their facilities from the company's wind farms.
These wind farms include Amazon's US East wind farm (North Carolina), which supplies power to Amazon, or the Montague wind farm which supplies power to Apple, as well as the Leaning Jupiter (Oregon) and Jupiter Canyon (Washington), both of which supply power to Nike.
Therefore, Iberdrola will own and operate the wind farm that will be built, and the electricity generated will be supplied to the city of Austin, capital of Texas and fourteenth most populated city in the United States, with almost one million inhabitants.
Iberdrola, renewable energy benchmark in the United States
Since late 2015, Iberdrola has been operating in the United States through the company AVANGRID, which is the fruit of the friendly merger between Iberdrola USA and UIL Holdings Corporation.
AVANGRID is a New York Stock Exchange listed company (ticker: AGR) based in New Haven (Connecticut) with operations spanning 25 US States and assets worth US$31 billion.
AVANGRID's presence in the renewables sector in the United States is one of the largest international commitments ever undertaken by a Spanish company.
Its involvement in clean generation in the country, with nearly 6,200 MW of installed wind power, has made AVANGRID the United States' third-largest wind power operator.
In recent years, AVANGRID has built some of its most emblematic facilities in the sector in the United States, including the Peñascal complex, which is the world's largest wind power facility with a power capacity of 606 MW, and the projects currently under way in California, namely El Cabo, whose power capacity will reach 298 MW, and the 132 MW Tule project.