02:07 PM EDT, 04/08/2024 (MT Newswires) -- Avangrid ( AGR ) and Statkraft said Monday they have signed a short-term virtual power purchase agreement.

Financial details of the deal were not disclosed.

Under the agreement, Statkraft will obtain renewable energy certificates from the 300-megawatt Streator Cayuga Ridge South Wind Farm of Avangrid ( AGR ) in Illinois.

Virtual power purchase agreements are financial contracts that link renewable energy certificates to the quantity of renewable energy generated by the facility.

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