UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 8.01 | Other Events. |
On July 8, 2024, Kitty Hawk North, LLC, an indirect wholly owned subsidiary of Avangrid, Inc. (the “Corporation”), entered into an agreement with the Virginia Electric and Power Company, a wholly owned subsidiary of Dominion Energy, Inc., to sell the approximately 40,000-acre federal offshore lease OCS-A 0559 and certain associated assets for approximately $158 million. The transaction is expected to close in the fourth quarter of 2024 and is subject to customary closing conditions including, without limitation, approval of offshore lease assignment from the U.S. Bureau of Ocean Energy Management and consent of the City of Virginia Beach. Avangrid will retain the 83,443-acre federal offshore lease OCS-A 0508 (known as Kitty Hawk South) and rights to use the “Kitty Hawk” name.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AVANGRID, INC. | ||
| By: | /s/ Justin Lagasse | |
| Name: | Justin Lagasse | |
| Title: | Senior Vice President – Chief Financial Officer and Controller | |
Dated: July 8, 2024
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