Avangrid Renewables Sells Stake in Coyote Ridge Wind Farm
Avangrid, Inc. (AGR)
Last avangrid, inc. earnings: 4/28 04:15 pm
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Source: Business Wire
WEC Energy Group acquires 80% ownership interest ORANGE, Conn.--(BUSINESS WIRE)-- Avangrid Renewables, LLC, a subsidiary of AVANGRID, Inc. (NYSE: AGR), today announced the sale of the ownership interest in the Coyote Ridge Wind Farm, now under construction in Brookings County, South Dakota, to WEC Energy Group of Milwaukee. Under the terms of the transaction, which closed in December, 2018, WEC Energy Group acquired an 80 percent ownership interest in the project and substantially all of the tax benefits for $145 million. “Working with a trusted partner like WEC Energy Group aligns with our strategy to maximize the value of our robust renewables pipeline,” said Laura Beane, president and CEO of Avangrid Renewables. “This opportunity enables us to work together to drive economic development and deliver clean energy solutions to meet market demand.” Avangrid Renewables is building the wind
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AGR
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- 4/24/24 - Form 10-Q
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