Iberdrola, a major player in the energy sector, has finalized the complete acquisition of its American subsidiary Avangrid. This operation includes the purchase of the 18.4% of shares it did not yet control, at a price of $35.75 per share. With this acquisition, Avangrid will leave the New York Stock Exchange and will now operate as a private company.
This transaction was approved by several regulators, including the Federal Energy Regulatory Commission (FERC), as well as authorities in the states of Maine and New York. Avangrid shareholders will also benefit from a proportional dividend, which is scheduled to be paid on January 2, 2025.
A Strategy Focused on Infrastructure
The full takeover of Avangrid provides Iberdrola with new opportunities for investment in energy infrastructure and renewables in the United States. The company plans to improve electricity networks and develop ambitious projects aimed at enhancing energy reliability and resilience, particularly to meet the growing needs of public services and data centers.
These initiatives are part of a broader strategy to stimulate local economies while creating direct and indirect jobs.
The Role of Avangrid in the Energy Landscape
Avangrid plays a key role in delivering electricity to approximately seven million customers in the states of New York, Connecticut, Maine, and Massachusetts. With assets valued at $46 billion, the company also manages an installed capacity of 8,700 MW of renewable energy spread across 24 states.
This strategic positioning makes Avangrid an essential asset for Iberdrola, which is strengthening its presence in the North American market while consolidating its clean energy activities.
