Avangrid, a subsidiary of the Iberdrola Group, and Statkraft have announced the signing of a Virtual Power Purchase Agreement (VPPA), marking the beginning of a new partnership between the two companies in the USA.
Under this short-term VPPA, Statkraft will receive Renewable Energy Certificates (RECs) from Avangrid’s 300 MW Streator Cayuga Ridge South Wind Farm in Illinois. This agreement represents the first collaboration between the two companies in the US market. Additionally, Statkraft and Iberdrola have a Power Purchase Agreement (PPA) for energy generated at Iberdrola’s Korytnica II wind farm in Poland.
