Avangrid and Statkraft seal energy partnership in the United States

Avangrid and Statkraft sign a VPPA in the USA, using RECs from the Streator Cayuga Ridge South wind farm in Illinois.

Share:

Partenariat Avangrid Statkraft USA

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Avangrid, a member of the Iberdrola Group, and Statkraft have established a commercial relationship in the United States through a Virtual Power Purchase Agreement (VPPA). The contract covers the supply of Renewable Energy Certificates from Avangrid’s wind farm at Streator Cayuga Ridge South in Illinois. This VPPA is the first of its kind between the two companies on the US market.

Management commitments and risk management

Commenting on the signing of the contract with Statkraft, Pedro Azagra, CEO of Avangrid, said: “We are grateful to partner with organizations like Statkraft that share our commitment to accelerating the transition to clean energy. Climate change is a defining issue of our time, and it’s vital that we work together to meet this challenge.” The latter emphasized Avangrid’s “proactive approach” to managing market risks and the ongoing distribution of clean energy.

Statkraft expansion and international cooperation

Patrick Pfeiffer, Head of Statkraft US, says: “This VPPA marks an important milestone in the establishment and expansion of our PPA business in the United States. We are proud to partner with Avangrid, continuing our successful relationship with Iberdrola in Europe. In working towards a global energy transition, it’s essential to think beyond borders and connect internationally. Together with our valued partners, we can renew the way the world is powered.”

Avangrid, with an installed capacity of over 8.7 GW, is one of the largest renewable energy operators in the United States. The company aspires to be the country’s leader in sustainable energy, with assets of around $44 billion and operations in 24 states.

EDF confirms it is exploring capital openings and calls for strict investment prioritisation, facing €54.3bn ($57.5bn) in debt and massive funding needs by 2040.
A consortium led by Masdar and CPP Investments proposes to acquire all of ReNew at $8.15 per share, representing a 15.3% increase over the initial offer.
In Kuala Lumpur, Huawei Digital Power unveiled its grid-forming technologies, positioned as a strategic lever to strengthen power interconnections and accelerate energy market development across ASEAN.
Voltalia has entered a strategic partnership with IFC to develop tailored renewable energy projects for the mining sector across several African countries.
Ghana will receive increased backing from the World Bank to stabilise its electricity grid, as the country faces more than $3.1bn in energy debt.
Repsol has launched a pilot platform of AI multi-agents, developed with Accenture, to transform internal organisation and improve team productivity.
ABB recorded double-digit growth in sales of equipment for data centres, contributing to a 28% increase in net profit in the third quarter, surpassing market expectations.
UK power producer Infinis has secured a £391mn ($476mn) banking agreement to support the next phase of its solar and energy storage development projects.
The Nexans Board of Directors has officially appointed Julien Hueber as Chief Executive Officer, ending Christopher Guérin’s seven-year tenure at the helm of the industrial group.
JP Morgan Chase has launched a $1.5 trillion, ten-year investment initiative targeting critical minerals, defence technologies and strategic supply chains across the United States.
Amid rising global demand for low-carbon technologies, several African countries are launching a regional industrial strategy centred on domestic processing of critical minerals.
Maersk and CATL have signed a strategic memorandum of understanding to strengthen global logistics cooperation and develop large-scale electrification solutions across the supply chain.
ABB made several attempts to acquire Legrand, but the French government opposed the deal, citing strategic concerns linked to data centres.
Aramco becomes Petro Rabigh's majority shareholder after purchasing a 22.5% stake from Sumitomo, consolidating its downstream strategy and supporting the industrial transformation of the Saudi petrochemical complex.
Chevron India expands its capabilities with a 312,000 sq. ft. engineering centre in Bengaluru, designed to support its global operations through artificial intelligence and local technical expertise.
Amid rising energy costs and a surge in cheap imports, Ineos announces a 20% workforce reduction at its Hull acetyls site and urges urgent action against foreign competition.
Driven by growing demand for strategic metals, mining mergers and acquisitions in Africa are accelerating, consolidating local players while exposing them to a more complex legal and regulatory environment.
Ares Management has acquired a 49% stake in ten energy assets held by EDP Renováveis in the United States, with an enterprise value estimated at $2.9bn.
Ameresco secured a $197mn contract with the U.S. Naval Research Laboratory to upgrade its energy systems across two strategic sites, with projected savings of $362mn over 21 years.
Enerflex Ltd. announced it will release its financial results for Q3 2025 before markets open on November 6, alongside a conference call for investors and analysts.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.