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Avangrid and Statkraft agree PPA partnership in the US

RICHARD HEAP

April 9, 2024

Iberdrola subsidiary Avangrid has signed a virtual power purchase agreement to supply Statkraft with renewable energy certificates from the 300MW Cayuga Ridge South wind farm in Illinois.

This is the first agreement between the companies in the US, and follows a PPA for Iberdrola to supply Statkraft with electricity from the Korytnica II wind farm in Poland.

Pedro Azagra, chief executive at Avangrid, said: “Agreements like this are a good example of our active approach to managing merchant risk at Avangrid’s existing renewable energy facilities, while ensuring clean energy continues to flow to the communities where it’s needed most.”

Patrick Pfeiffer, head of Statkraft US, said: “We are proud to partner with Avangrid as a continuation of our successful relationship with Iberdrola in Europe. As we work toward a global energy transition, it’s critical to think beyond borders and connect internationally. Together with our valued partners, we can renew the way the world is powered.”

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