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Iberdrola unit inks Google power-supply contracts

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By Alberto Delclaux

Iberdrola SA's (IBE.MC) U.S.-based subsidiary Avangrid Renewables LLC said Thursday that it signed two power purchase agreements with Google amounting to 196 megawatts of power.

Avangrid Renewables said that it will provide the Alphabet Inc. /zigman2/quotes/202490156/lastsale GOOGL +0.13% subsidiary with the whole output of two wind farms currently under development in South Dakota.

The farms are expected to be in full construction by 2019 and each one has a capacity of 98 megawatts.

No financial details were disclosed.

According to Spanish news service EFE, Avangrid Renewables' investment in the wind farms will be in the range of $250 million.

/zigman2/quotes/202490156/lastsale
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