Avangrid and Statkraft have signed a virtual power purchase agreement in which Statkraft will receive renewable energy certificates from Avangrid’s 300 MW Streator Cayuga Ridge South Wind Farm in Illinois.
This is the first agreement between the two companies in the U.S. market. Statkraft and Iberdrola, Avangrid’s parent company, have a PPA in place for energy produced at Iberdrola’s Korytnica II wind farm in Poland.
“We are grateful to partner with organizations like Statkraft that share our commitment to accelerating a clean energy transition,” says Pedro Azagra, Avangrid CEO.
“Climate change is a defining issue of our time and it is vital that we work together to meet the moment. 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.”
