---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-297636"
form_type: "8-K"
ticker: null
cik: "0001634997"
company_name: "Avangrid, Inc."
filed_at: "2023-12-18T23:59:59+00:00"
generated_at: "2026-06-07T11:19:17.825290+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Avangrid issues parent guaranty up to $725M for Vineyard Wind 1 tax equity financing

## Summary
- Parent guaranty initial amount $57M, increasing to max $725M as tax equity investors fund.
- Guaranty issued Dec 13, 2023 to J.P. Morgan, Bank of America, and Wells Fargo.
- Vineyard Wind 1 is 50% indirectly owned by Avangrid subsidiary; develops offshore wind off Massachusetts.
- Tax equity financing of ~$1.2B closed Oct 24, 2023; parent guaranty issued upon first funding.
- Guaranty covers development, construction, ownership, and operation of the Vineyard Wind 1 Project.

## SEC filing metadata
- accession: 0001193125-23-297636
- form_type: 8-K
- cik: 0001634997
- company_name: Avangrid, Inc.
- filed_at: 2023-12-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1634997/000119312523297636/0001193125-23-297636-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1634997/000119312523297636/d416439d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-297636
- JSON: https://secwatch.observer/filing/0001193125-23-297636.json
- Plain text: https://secwatch.observer/filing/0001193125-23-297636.txt

## Key facts
- Debt Financings
  Avangrid, Inc. incurred guarantee of initial aggregate amount of approximately $57 million with J.P. Morgan Chase, Bank of America, and Wells Fargo.
  - Instrument: guarantee
  - Principal: initial aggregate amount of approximately $57 million
  - Counterparty: J.P. Morgan Chase, Bank of America, and Wells Fargo
  - Event: incurrence
  source text: the Corporation issued a parent guaranty in favor of the Tax Equity Investors (the “Tax Equity Guaranty”) in the initial aggregate amount of approximately $57 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634997/000119312523297636/0001193125-23-297636-index.htm
- Material Agreements
  Avangrid, Inc. entered into Tax Equity Guaranty with J.P. Morgan Chase, Bank of America, and Wells Fargo valued at initial aggregate amount of approximately $57 million (effective 2023-12-13).
  - Action: entry
  - Counterparty: J.P. Morgan Chase, Bank of America, and Wells Fargo
  - Value: initial aggregate amount of approximately $57 million
  - Effective: 2023-12-13
  source text: the Corporation issued a parent guaranty in favor of the Tax Equity Investors (the “Tax Equity Guaranty”) in the initial aggregate amount of approximately $57 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1634997/000119312523297636/0001193125-23-297636-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.