Avangrid's $1 Billion Power-Line Project Prevails in Maine Court [BNN Bloomberg (Canada)]
Avangrid, Inc. (AGR)
Last avangrid, inc. earnings: 4/28 04:15 pm
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Source: BNN Bloomberg
The developer of the New England Clean Energy Connect line was acting in good faith as it continued construction ahead of a state referendum to block the project, according to the decision announced Thursday. The decision means the developers may resume work, and they are evaluating their next steps. Maine residents voted to halt the project in November 2021, even though Orange, Connecticut-based Avangrid had already spent $450 million and begun construction. The planned 145-mile (233-kilometer) line would deliver power from Hydro-Quebec, Canada's largest electricity producer. The Maine Supreme Court ruled in August that the referendum may have violated the company's rights after the developers had secured the necessary permits. However, it also sent the case back to a lower court where the jury had to decide whether Avangrid had accelerated construction in an effort to invalidate the referendum. Avangrid shares slipped 0.7% to $40.32 at 10:38 a.m. in New York. Maine official
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AGR
Earnings
- 4/23/24 - Beat
AGR
Sec Filings
- 4/24/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 4/15/24 - Form 8-K
- AGR's page on the SEC website