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Avangrid and CPS Energy Expand Relationship to Provide Energy for Another 40,000 San Antonio Residents

1. Avangrid expanded its Power Purchase Agreement with CPS Energy by 159.2 MW. 2. CPS Energy doubled its offtake from Avangrid, now at 320 MW.

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Why Bullish?

The expansion of the PPA indicates increasing operational capacity and revenue potential for Avangrid. Similar past agreements have led to positive stock movements in energy companies, enhancing long-term financial health.

How important is it?

The expansion of the PPA is significant, indicating strong demand for Avangrid's energy production and enhancing its market position.

Why Long Term?

This agreement secures a stable revenue stream for Avangrid over a prolonged period. Historically, long-term contracts in the energy sector provide sustained growth outlooks.

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CPSIBDRYED
SAN ANTONIO--(BUSINESS WIRE)--Avangrid, Inc., a leading energy company and member of the Iberdrola Group, today announced that it has expanded an existing Power Purchase Agreement (PPA) with CPS Energy, the nation's largest municipally-owned provider of electric and natural gas services, by adding another 159.2 Megawatts (MW) of capacity from its Peñascal power generation project. As a result, the utility has doubled its offtake from Avangrid, rising from 160.8 MW to 320 MW. The additional ener.

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