Iberdrola multiplies its investments in New York to 5,500 million euros

I KNOWBoston Updated: 06/02/2022 19:20h
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Ignacio Galán today chaired the board of directors of Iberdrola United States (Avangrid) in Boston (USA) in which, among other matters, the investment plan presented by the company's distributors in New York to the regulator was analyzed of the State. According to the plan, investments could reach a figure close to 5,500 million euros in the next three years, which would mean multiplying by two the average investments of recent years in New York, which will promote the economic development of the state .

The investments of this plan will also contribute to the growth of its network business, in which it already has assets worth approximately 11,000 million euros, which it expects to increase to 18,000 million in 2025, including organic and inorganic growth, according to announced the company chaired by Ignacio Galán.

Iberdrola has been present in the United States for 15 years, and has assets that today exceed 36,000 million euros in 24 states, serving a population of more than 7 million people.

Ibrerdrola USA (Avangrid) is listed on the New York Stock Exchange, with a capitalization of 16,700 million euros, which would place it as one of the 14 largest companies on the Ibex.

Today, the company operates 70 onshore wind farms and photovoltaic solar plants, being the third renewable company in the country, with more than 8,000 MW in operation and close to 1,000 MW under construction.

In addition, Iberdrola USA (Avangrid) is a pioneer in the development of offshore wind power in the USA, with the recent start of construction of the first large-scale offshore wind project in the country, Vineyard Wind 1, and has a portfolio of nearly 5,000 MW in this technology thanks to the Park City Wind projects in Connecticut; Commonwealth Wind, in Massachusetts; and Kitty Hawk, in North Carolina.

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