Aug 24, 2023
Iberdrola's US subsidiary Avangrid has begun construction of the 240 MW True North photovoltaic plant in Falls County (Texas). It will supply clean, renewable energy to power the operations of Meta, the parent company of the social network Facebook, in the region.
Since 2020, Meta's global operations have been supported by 100% renewable energy. The True North project will support Meta's upcoming data centre in Temple City, its second data centre facility in Texas.
True North, Avangrid's first solar farm in Texas, is expected to reach commercial operation in early 2025. During construction and operation, True North will create more than 200 jobs and is expected to pay more than $40 million in property taxes over 25 years in the state, where the company already operates more than 1,250 MW of onshore wind facilities.
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"We are very pleased to announce this milestone, which reflects our unwavering commitment to advancing the clean energy transition and building a more sustainable future for all", said Pedro Azagra, CEO of Avangrid. "With projects like True North, we continue our mission to help the country meet its ambitious energy goals, while creating quality jobs and strengthening our local economies".
US energy leader
In less than two decades, Iberdrola has become one of the largest groups in the North American electricity sector, listed on the New York Stock Exchange since 2015.
Headquartered in Orange, Connecticut, and with approximately $40 billion in assets, the firm has a presence in 24 states and manages nearly 10,000 MW of installed capacity, including more than 8,600 MW of renewables (primarily wind and solar PV), and more than 130,000 kilometres of power lines through eight distributors in New York, Connecticut, Maine and Massachusetts. The company serves a population of 10 million people in the United States.
Iberdrola has a portfolio of more than 25,000 MW of high-quality renewable projects in the United States, representing a stable platform for continued growth over the coming years as the country meets its decarbonisation targets.
Avangrid continues to make significant progress in the environmental, social and governance (ESG) areas. This month, for the sixth year in a row, Avangrid repeated in the FTSE4Good index.