Avangrid awarded $425M federal capacity contract for Maine transmission project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 03 2024
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Should l Buy ?
Avangrid's Major Contract Award: The U.S. Department of Energy has awarded Avangrid a $425 million capacity contract for its Aroostook Renewable Project, marking one of the largest federal investments in Maine's energy development history.
Future Plans and Investments: Avangrid plans to participate in the upcoming transmission line RFP process to connect 1,200 MW of renewable energy to the New England power grid and will invest over $15 million for Disadvantaged Communities in Maine.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
