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Avangrid secures $100m PTC transfer deal

Richard Heap
September 28, 2023

Iberdrola subsidiary Avangrid has reached a $100m deal to transfer 2023 production tax credits (PTC) from eight US wind farms totalling 1.1GW to energy trader Vitol.

This is one of the largest PTC transfer deals since the transferability framework was created in the Inflation Reduction Act, which passed in August 2022. The deal covers PTCs from eight Avangrid wind farms: Baffin Bay, Deerfield, Desert Wind, Klondike II, La Joya, Tule, Trimont and Twin Buttes II.

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