Iberdrola Seals Final Approval for Full Avangrid Acquisition
Iberdrola has achieved a significant milestone with the finalization of its 100% acquisition of its US subsidiary, Avangrid, following the green light from the New York regulator on 20 December. This approval marks the last step in a journey that has already seen endorsements from the Federal Energy Regulatory Commission (FERC) and the Maine regulator.
Transforming Energy Infrastructure in the U.S.
With this merger, Avangrid will operate as a private company, continuing its headquarters in Connecticut. This strategic move empowers Iberdrola to invest more efficiently in the US energy infrastructure, enabling Avangrid to play a pivotal role in advancing grid and renewable energy projects. These initiatives are expected to generate hundreds of direct and indirect jobs, while also making a significant impact on local communities. “Our investments will create a more robust, resilient, and reliable electric grid,” Iberdrola stated. The projects aim to meet growing energy demands from utilities and data centers, reinforcing their commitment to modernize and expand the infrastructure to power America’s future.
A Decade of Growth and a Bright Future
About a decade ago, Iberdrola merged its North American operations with UIL Holdings, creating Avangrid, which has since been a publicly listed company on the US stock exchange. Today, Avangrid serves a vast population of seven million people across New York, Connecticut, Maine, and Massachusetts, with a renewables portfolio boasting 8,700 MW of installed capacity across 24 states. The company employs 8,000 people, further underscoring its integral role in the energy sector.
The Transition to Private Ownership
With the transaction set to close on 23 December, Avangrid shareholders will receive $35.75 per share under the terms of the agreement. Following the closure, Avangrid’s shares will be delisted from the New York Stock Exchange, marking a new chapter for the company under Iberdrola’s full ownership. This merger reinforces Iberdrola’s position as a global leader in renewable energy and grid infrastructure, setting the stage for a future defined by sustainability, innovation, and community impact. #Iberdrola #Avangrid #EnergyTransition #RenewableEnergy #GridInfrastructure #Sustainability #USEnergy #CleanEnergy #ResilientGrid #GreenEnergy #EnergyInnovation #GlobalLeadership #JobsCreation