Utility Avangrid Launches Onshore Wind Farm Project in Oklahoma

Avangrid (AGR.N), opens new tab, the U.S. unit of Spain's Iberdrola (IBE.MC), opens new tab, announced its first onshore wind project in Oklahoma, a 147.5 MW wind farm with 33 turbines called Pontotoc Wind, on Tuesday.

While the race to reduce the reliance on fossil fuels has attracted investments in offshore wind farms, onshore wind farms, which produce less power, are currently more profitable in the United States.

Construction at Pontotoc Wind is due to begin in 2024 and once finished, will generate about 500,000 MWh of power each year.

Another of Avangird's wind projects, an offshore joint venture called Vineyard Wind, began generating power for the first time this month.

The company is due to re-bid its contracts to sell power from two other offshore wind farms in future solicitations.