Avangrid and Xcel Energy Extend Offtake Agreement for 150 MW Power Project in the Midwest

Core Insights - Avangrid, Inc. has extended its offtake agreement with Xcel Energy for electricity from the MinnDakota energy project, ensuring continued reliable energy generation and local economic support [1][2]. Company Overview - Avangrid is a leading energy company in the U.S. with approximately $48 billion in assets, operating in 23 states and serving over 3.4 million customers [4]. - The company has a power generation capacity of over 10.5 GW from more than 80 projects nationwide, including 900 MW from 10 projects in Minnesota and South Dakota [3][4]. - Avangrid employs around 8,000 people and has received recognition as one of America's best corporate citizens and among the World's Most Ethical Companies [4]. Project Details - The MinnDakota project is a 150 MW wind energy facility located on the Minnesota-South Dakota border, supporting 9 full-time jobs and contributing approximately $10 million in property taxes since its inception [2][3]. - The project has been operational since its construction and continues to provide safe, reliable, and affordable electricity to thousands of homes and businesses [2].