Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced that it has begun to produce power from the True North solar project in Falls County, Texas, near Waco. With 20 MW commissioned thus far, this marks another major milestone for what will become the largest solar power project in Avangrid's portfolio, and its first solar project in Texas.
"This is great news, not just for the on-time construction of True North, but for the state of Texas at large. Thanks to the diligent work of our team and our contractors, we are able to supply additional energy to the Texas electrical grid as we move into the summer months," said Pedro Azagra, Avangrid CEO. "I am happy to see this project moving forward as Avangrid continues on its mission to accelerate the clean energy transition across America."
True North will be a 238 MWac (321 MWdc) solar farm. Once the project is built, it will supply clean, renewable energy in support of Meta's net zero commitment, including supporting its upcoming data center in neighboring Temple, its second data center facility in Texas, with 100 percent renewable energy. Ahead of commercial operations, expected at the end of 2024, the project will supply power to customers on the Texas grid.
During its construction and operation, the project is creating local jobs and supporting local communities. It is expected to pay more than $40 million in property taxes over the life of the project, which directly supports public services like safety and fire protection, as well as local schools.
Avangrid has successfully developed, built, and operated renewable energy facilities in Texas for more than 15 years, with more than 1,200 MW of installed wind capacity. The company has paid more than $100 million in property taxes from its existing facilities.
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies - a ranking of America's best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.'s Sustainable Development Goals and was named among the World's Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola's main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of 141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of 12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than 130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
