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Portland General Electric signs contract with Avangrid Renewables.

International Resource News-February 12, 2020--Portland General Electric signs contract with Avangrid Renewables

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International Resource News - 12 February 2020

Portland General Electric (NYSE: POR), a fully integrated energy company based in Portland, Oregon, has signed a contract with Avangrid Renewables, a subsidiary of Avangrid Inc. (NYSE: AGR).

The contract has been signed to purchase power from a new 162-megawatt solar generation facility to be developed and built in eastern Oregon. The facility is to provide power and the accompanying renewable energy credits to Portland General Electric's Green Future Impact customers, helping them source up to 100 percent of their energy from a local renewable energy resource that they have helped make possible.

The new solar facility will be Avangrid Renewables' 11th renewable energy facility in Oregon and will be constructed on 1,200 privately owned acres in Gilliam County. Construction is likely to commence in late 2020 or early 2021. At its peak, construction is to generate around 300 jobs in collaboration with local unions. The facility is to commence operations in late 2021 and will produce enough power to serve the equivalent of around 40,000 homes and will generate around USD1.3m of taxes and property owner lease payments each year.

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Publication:International Resource News (IRN)
Geographic Code:1U9OR
Date:Feb 12, 2020
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