ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Avangrid Achieves Commercial Operations at Powell Creek Solar Project in Ohio

202 MWdc (150 MWac) project in Ohio created approximately 500 construction jobs, will contribute about $31 million to local taxing jurisdictions

Avangrid has added nearly 600 MW of new domestic energy capacity to the U.S. grid within the last six months, adding critical new capacity to meet growing energy demand

Company now operating 10.5 GW from 80 power facilities across the country

Avangrid, Inc., a leading energy company and member of the Iberdrola Group, today announced that it has achieved commercial operations at its Powell Creek Solar project in Putnam County, Ohio. The 202 MWdc (150 MWac) project, Avangrid’s second power facility in Ohio, is now generating enough electricity to power the equivalent of 30,000 homes annually. Powell Creek is a timely addition to the regional electric grid ahead of peak summer demand and represents new American energy capacity that will help to meet the growing power needs from data centers, domestic manufacturing, and electrification.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250603034150/en/

Aerial image of a section of Avangrid’s Powell Creek Solar project during construction in Putnam County, Ohio.

Aerial image of a section of Avangrid’s Powell Creek Solar project during construction in Putnam County, Ohio.

“Avangrid has achieved commercial operations at Powell Creek at a pivotal moment for the local community in Ohio, where rapidly growing energy demand requires new sources of power generation,” said Pedro Azagra, Avangrid CEO. “Putting this critical project into service demonstrates Avangrid’s unique ability to deliver on the energy needs of communities across the country. In addition to this needed power, Powell Creek is providing important benefits to the local, state, and regional economies. Projects like this represent significant capital investments that generate hundreds of construction jobs, permanent employment opportunities, and new tax revenue that supports important public services in the local community.”

Powell Creek is in Northwest Ohio near the town of Miller City and reached commercial operation in April. The project includes over 300,000 solar panels and supported about 500 jobs during construction, most of them filled with local union workers from the region.

The project is directly supporting the community through new jobs, tax revenue, and landowner payments. Powell Creek is expected to contribute an estimated $31 million to local taxing jurisdictions over its lifetime and about $1.1 million in annual lease payments. In a unique relationship, Miller City is capturing significant revenue from the project which it will use to construct a new sewer line to encourage new home and business development. Growth was historically limited there because the village’s homes, businesses, and school run on individual septic systems.

“Partnership with Avangrid has been and will be beneficial to Miller City,” said Jim Erford, mayor of Miller City. “This is a major economic development opportunity that will help us grow for the first time in many years, bringing new families and businesses to our Northwest Ohio community.”

According to a recent U.S. National Power Demand Study by S&P Global, energy demand in the U.S. could rise by as much as 50% by 2040, driven largely by new data centers. Projects like Powell Creek are helping to meet growing energy needs, improve the reliability of regional electric grids, and deliver sustained economic growth.

Powell Creek is Avangrid’s second energy project in Ohio, following the 304 MW Blue Creek project built in 2012. Avangrid now has over 500 MW of installed capacity in Ohio, which can generate enough electricity for over 100,000 U.S. homes annually. Avangrid’s Ohio footprint contributed about $3 million in state and local taxes last year and about $5 million in lease payments to participating landowners. The company employs 22 people in the state.

Avangrid has added nearly 600 MW of domestic energy capacity to the U.S. grid in the past six months. This achievement underscores Avangrid’s commitment to meeting surging electricity demand, supporting local jobs, and ensuring homes and businesses have a reliable source of energy. Avangrid operates about 10.5 GW of energy capacity across the country.

About Avangrid: Avangrid, Inc. is a leading energy company in the United States working to meet the growing demand for energy for homes and businesses across the nation through service, innovation, and continued investments by expanding grid infrastructure and energy generation projects. Avangrid has offices in Connecticut, New York, Massachusetts, Maine, and Oregon, including operations in 23 states with approximately $48 billion in assets, and has two primary lines of business: networks and power. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. Through its power generation business, Avangrid owns and operates more than 75 energy generation facilities across the United States producing 10.5 GW of power for over 3.1 million customers. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2025 for the fifth consecutive year. The company was named among the World’s Most Ethical Companies in 2025 for the seventh consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit http://www.avangrid.com.

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.