Avangrid Renewables Leadership Change

PORTLAND, Ore.--(BUSINESS WIRE)-- AVANGRID (NYSE: AGR) announced a leadership transition today for its renewable energy company, naming Laura Beane as the incoming CEO for Avangrid Renewables, noting outgoing CEO Frank Burkhartsmeyer’s resignation to take a position with another company next month.

“Laura and Frank have each been with the company for nearly 20 years (including the prior affiliate PacifiCorp) and we’re fortunate to have such an easy transition at a time when we’re growing this company at such a steady pace," said AVANGRID CEO Jim Torgerson. “Laura has held a variety of key leadership roles for us, most recently as the Vice President of Operations and Maintenance Services and brings multiple diverse skills to her new role. We wish Frank well in his new endeavor and thank him for his many years of service and helping us become one of the leading wind developers in the U.S.”

Beane will transition into the CEO role over the next month as Burkhartsmeyer leaves in mid-May to join his new company.

“I’m extremely grateful the AVANGRID board has given me this opportunity,” said Beane. “It’s such an exciting time for the renewable energy industry and we are uniquely positioned to take advantage of the growing demand for clean energy with a tremendously experienced and innovative work force. I look forward to helping us build on Frank’s legacy.”

“I greatly enjoyed my years with the company and helping us transition to becoming part of a publicly traded leading U.S. energy company,” said Burkhartsmeyer. “Our team accomplished a lot together and I feel very fortunate to have been able to work with so many talented professionals. The Avangrid future is bright and I know Laura will lead the Renewables team to even greater success.”

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a diversified energy and utility company with more than $31 billion in assets and operations in 27 U.S. states. The company owns regulated utilities and electricity generation assets through two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks comprises eight electric and natural gas utilities, serving approximately 3.2 million customers in New York and New England. Avangrid Renewables operates 6.5 gigawatts of electricity capacity, primarily through wind power, across the United States. AVANGRID employs approximately 7,000 people. Iberdrola S.A. (Madrid: IBE), a worldwide leader in the energy industry, owns 81.5% of the outstanding shares of AVANGRID common stock. For more information, visit www.avangrid.com.

About Avangrid Renewables: Avangrid Renewables, LLC is a subsidiary of AVANGRID, Inc. (NYSE: AGR) and part of the IBERDROLA Group. IBERDROLA, S.A., an energy pioneer with the largest renewable asset base of any company in the world, owns 81.5% of the outstanding shares of AVANGRID common stock. Avangrid Renewables, LLC is headquartered in Portland, Ore., and has more than $10 billion of operating assets totaling more than 6,000 MW of owned and controlled wind and solar generation in 20 U.S. states. Avangrid Renewables recently changed its legal name from Iberdrola Renewables, LLC. For more information, visit www.avangridren.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170425006165/en/

AVANGRID
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Michael A. West, Jr., 203-499-3858
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Source: AVANGRID

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