PORTLAND, Ore., Feb. 11, 2021 /PRNewswire/ -- Portland General
Electric (NYSE:POR) today announced that Intel (NASDAQ:INTC) has
joined PGE's Green FutureSM Impact program. Intel's
participation is enabling PGE to enter into a 15-year agreement
with Avangrid Renewables, a subsidiary of AVANGRID, Inc.
(NYSE:AGR), to purchase clean, emissions-free energy from a new
138-megawatt solar facility that will be developed in Wasco County, Oregon. Intel's purchase is the
single largest in PGE's program; the company joins 17 other
businesses and municipalities that have committed to purchase clean
power through the Green Future Impact program, filling the
program's original 300-megawatt capacity.
Intel signed a 15-year agreement with PGE to enable the
development of this additional new solar facility, which it is
naming Daybreak Solar. It will produce a significant portion of the
energy needed to power Intel's advanced technology development and
manufacturing facilities in Hillsboro,
Oregon. Intel will be the only purchaser of power from this
new facility and as part of the agreement, will also purchase and
retire the associated renewable energy credits from Avangrid
Renewables to improve the quality of its 100% renewable U.S. energy
supply. Since 2004, Intel has been the largest purchaser of PGE's
Green Future Enterprise (formerly Clean Wind) product.
"Intel is excited to facilitate the construction of this new
solar facility and provide our Oregon facilities with locally-based renewable
energy," said Marty Sedler, director
of Global Utilities and Infrastructure for Intel Corp. "We are
proud to extend our commitment to sustainability and to advancing
Oregon's economy."
Avangrid Renewables will develop the 138-megawatt project in
Wasco County, Oregon on 1,100
acres of privately owned land. During peak construction, it will
create an estimated 150 to 200 jobs in partnership with local
unions. When the facility begins operating in 2022, it will produce
enough power to serve the equivalent of over 32,000 homes. It will
benefit the local economy for years to come by generating an
estimated $30 million of taxes and
property owner lease payments over the life of the project.
"We are pleased to again partner with PGE as we continue to meet
the growing clean energy demand of forward-thinking commercial
customers in the Pacific Northwest," said Holly Carias, vice president of origination for
Avangrid Renewables. "This project represents an important step
forward in the region's clean energy transition."
PGE's agreement with Avangrid Renewables marks the second local
renewable energy project made possible by Green Future Impact
customers. In 2020, PGE and Avangrid Renewables announced the
development of a 162-megawatt solar facility – the largest in
Oregon – to meet the needs of 17
Green Future Impact subscribers. That project is expected to come
online in late 2021.
"PGE is excited to work with Intel to enable their ambitious
sustainability and climate goals through our Green Future Impact
program," said PGE vice president and Chief Customer Officer
John McFarland. "Partnerships like
this strengthen Oregon's economy
and also help advance PGE's goal to reduce the emissions associated
with the power we serve to customers by at least 80% by 2030. We
look forward to working with Intel and Avangrid Renewables for
years to come."
PGE has requested approval from the Oregon Public Utility
Commission to add 200 megawatts of installed renewables to the
program to meet customer demand. More information about
participating in Green Future Impact is available at
www.portlandgeneral.com/greenfutureimpact
About Portland General Electric Company: Portland
General Electric (NYSE: POR) is a fully integrated energy company
based in Portland, Oregon, with
operations across the state. The company serves approximately
900,000 customers with a service area population of 2 million
Oregonians in 51 cities. PGE has 16 generation plants in seven
counties across Oregon,
Montana and Washington, and maintains and operates 14
public parks and recreation areas. For over 130 years, PGE has
delivered safe, affordable and reliable energy to Oregonians.
Together with its customers, PGE has the No. 1 voluntary renewable
energy program in the U.S. PGE and its 3,000 employees are working
with customers to build a clean energy future. In 2020, PGE,
employees, retirees and the PGE Foundation donated $5.6 million and volunteered 18,200 hours with
more than 400 nonprofits across Oregon. For more information visit
www.PortlandGeneral.com/news.
About Avangrid Renewables: Avangrid Renewables, LLC
is a subsidiary of AVANGRID, Inc. and part of the IBERDROLA Group.
It is a leading renewable energy company in the United States, owning and operating a
portfolio of renewable energy generation facilities. IBERDROLA,
S.A., is an energy pioneer with the largest renewable asset base of
any company in the world. Avangrid Renewables is headquartered in
Portland, Oregon. For more
information, visit www.avangridrenewables.com.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a
leading, sustainable energy company with approximately
$36 billion in assets and operations in 24 U.S. states. With
headquarters in Orange,
Connecticut, AVANGRID has two primary lines of business:
Avangrid Networks and Avangrid Renewables. Avangrid Networks owns
eight electric and natural gas utilities, serving more than 3.3
million customers in New York and
New England. Avangrid Renewables owns and operates a portfolio of
renewable energy generation facilities across the United States. AVANGRID employs
approximately 6,600 people. AVANGRID supports the U.N.'s
Sustainable Development Goals and was named among the World's Most
Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For
more information, visit www.avangrid.com.
Safe Harbor Statement
Statements in this news release
that relate to future plans, objectives, expectations, performance,
events and the like may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements made in this press release include
statements regarding the potential benefits of the project and the
future implementation of the project, as well as other statements
containing words such as "anticipates," "believes," "intends,"
"estimates," "promises," "expects," "should," "conditioned upon,"
and similar expressions. You are cautioned that any such
forward-looking statements are subject to risks and uncertainties
including failure to complete capital projects on schedule or
within budget, or the abandonment of capital projects; changes in
capital market conditions, which could affect the availability and
cost of capital and result in delay or cancellation of capital
projects; the outcome of various legal and regulatory proceedings;
general economic and financial market conditions; and the cost and
availability of services, products and technology. As a result,
actual results may differ materially from those projected in the
forward-looking statements. All forward-looking statements included
in this news release are based on information available to the
companies on the date hereof and such statements speak only as of
the date hereof. The companies expressly disclaim any current
intention to update publicly any forward-looking statement after
the distribution of this release, whether as a result of new
information, future events, changes in assumptions or otherwise.
You should also review the risks, assumptions and uncertainties
listed in each company's respective annual report on form 10-K and
in other documents that we file with the United States Securities
and Exchange Commission, including management's discussion and
analysis of financial condition and results of operations and the
risks described therein from time to time.
SOURCE: POR, Portland General Company
Media
Contacts:
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Andrea
Platt
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Morgan
Pitts
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Portland General
Electric
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Avangrid
Renewables
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503-464-7908
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503-933-8907
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Andrea.Platt@pgn.com
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Morgan.Pitts@Avangrid.com
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SOURCE Portland General Company