Avangrid Inc. is a leading renewable energy company based in Orange, Connecticut. The company is engaged in the generation, transmission, and distribution of electricity, as well as the production and sale of renewable energy products. Avangrid is committed to sustainability and has set ambitious goals to reduce its carbon emissions and increase the production of renewable energy.
Avangrid was formed in 2015 through a merger between Spanish energy company Iberdrola USA and UIL Holdings Corporation. The company is listed on the New York Stock Exchange under the ticker symbol AGR.
Avangrid's operations are primarily located in the northeastern United States, with its service territories spanning across New York, Connecticut, and Maine. The company has a diverse portfolio of energy resources, including hydroelectric, wind, and solar power. Avangrid is also a major investor in energy storage technology, which helps to balance the intermittent nature of renewable energy sources.
One of Avangrid's most notable projects is the New England Clean Energy Connect (NECEC), a 145-mile transmission line that will bring clean hydropower from Quebec to Massachusetts. The project is expected to reduce carbon emissions by 3 million metric tons per year and create thousands of jobs in both the United States and Canada.
Avangrid has also made a commitment to reducing its own carbon emissions. The company has set a goal to reduce its carbon emissions by 50% by 2030 and achieve net-zero carbon emissions by 2050. Avangrid has already made significant progress towards this goal, with over 90% of its electricity generation coming from renewable sources.
In addition to its focus on renewable energy, Avangrid is also committed to supporting the communities it serves. The company has a strong track record of charitable giving and employee volunteerism. Avangrid has donated millions of dollars to organizations focused on education, the environment, and social welfare, and employees have volunteered thousands of hours to community service projects.
Avangrid Inc. is a leader in the renewable energy industry, with a strong commitment to sustainability and community engagement. The company's focus on renewable energy sources, energy storage technology, and carbon emissions reduction make it a promising investment opportunity for those interested in environmentally conscious companies. As with any investment, it is important to do your due diligence and carefully consider your own investment objectives and risk tolerance before making a decision.