Avangrid seeks to create 1 GW of wind, solar projects in United States

• US power services and distribution business Avangrid Inc (NYSE: AGR) as well as the Navajo Tribal Utility Authority (NTUA) have actually tattooed a memorandum of understanding (MoU) to check out chances to establish as much as 1 GW of wind and also solar projects, consisting of battery storage space options in the Southwest.

The possible power generation facilities will certainly lie within the Navajo Nation in the states of New Mexico and Arizona, a news release stated on Monday.

The parties will certainly team up for a feasibility study with the purpose of offering affordable and also renewable resource to power local companies and also citizens. They will additionally assess exactly how the contemplated projects could benefit from the Inflation Reduction Act (IRA).

NTUA is a multi-utility venture owned as well as run by a Native American tribe. The entity was established in 1959 in a press to tackle the lack of utilities in the region.

Avangrid becomes part of Spanish utility group Ibedrola SA. The firm's portfolio consists of more than 8.6 GW of mounted eco-friendly capacity as well as greater than 25 GW under advancement, including solar, onshore and also offshore wind and also battery power storage.