Avangrid And CPS Energy Expand Relationship With Power Purchase Agreement For Energy From Texas Wind Farm
Portfolio Pulse from Benzinga Newsdesk
Avangrid, Inc. (NYSE:AGR) has signed a Power Purchase Agreement (PPA) with CPS Energy for a 161-Megawatt (MW) portion of Avangrid's Peñascal I wind farm in Texas. This agreement expands a previous 15-year deal, with CPS Energy more than doubling its power offtake from 77 MW to 161 MW, enough to power about 41,000 Texas homes.
June 04, 2024 | 7:39 pm
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Avangrid, Inc. (NYSE:AGR) has signed an expanded Power Purchase Agreement (PPA) with CPS Energy, increasing its power offtake from the Peñascal I wind farm from 77 MW to 161 MW. This deal will provide enough energy to power about 41,000 Texas homes.
The expanded PPA with CPS Energy significantly increases Avangrid's revenue from the Peñascal I wind farm, enhancing its position in the renewable energy market. The deal's scale and the doubling of power offtake indicate strong demand and a positive outlook for Avangrid's renewable energy projects.
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