Avangrid Renewables Statement on finalization of BOEM Offshore Lease — North Carolina (Kitty Hawk)

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October 13, 2017

PORTLAND, OREGON — Laura Beane, CEO & President of Avangrid Renewables, issued the following statement.

We are very excited to take this important next step as we help move the U.S. offshore wind industry forward. Executing this lease with the U.S. Bureau of Ocean Energy Management (BOEM) not only begins the formal process of studying these 122,000 acres in more detail, it means building long-term local and regional partnerships as we explore the opportunity to develop reliable, homegrown, clean energy using just the ocean breezes as fuel.

Even at this very early stage, we have a lot of work to do as we seek to better comprehend a number of variables that will inform our understanding of the wind farm development. That process will take time, is highly technical, and will involve many stakeholders, but we are confident in our ability to leverage our experience in order to deliver a competitively priced product to our eventual customers.

We are grateful for the work BOEM and the Department of the Interior have done to screen this site and conduct the selection process.

As the first company to bring wind energy to North Carolina, and with a track record of developing and operating renewable wind and solar plants from coast to coast, we’re excited to extend that expertise into the waters off North Carolina. We’ll bring to bear the substantial experience of our majority shareholder, Iberdrola Group, who develops, builds, and operates offshore wind in Europe. Now we get to work undertaking an enormous task in bringing this project to fruition, but confident in its completion.

About Avangrid Renewables:: Avangrid Renewables, LLC is a subsidiary of AVANGRID, Inc. (NYSE: AGR), a diversified energy and utility company with more than $31 billion in assets and operations in 27 states. Avangrid Renewables, LLC is headquartered in Portland, Oregon, and has more than $10 billion of operating assets totaling more than 6 gigawatts of owned and controlled renewable generation capacity, primarily through wind and solar, in 22 states across the United States. For more information, visitwww.avangridren.com.

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