The Iberdrola group has consolidated its position as one of the leading energy companies in the United States, where it is listed on the New York Stock Exchange as AVANGRID, Inc., a sustainable company with assets of US$31 billion, 6,500 employees and operations in 24 states of the country.
IBERDROLA IN THE UNITED STATES
We are one of the biggest energy companies in the United States
The Iberdrola group has consolidated its position as one of the leading energy companies in the United States, where it is listed on the New York Stock Exchange as AVANGRID, Inc.*, a sustainable company with assets of US$31 billion, 6,500 employees and operations in 24 states of the country.
OUR MAIN BUSINESS LINES
AVANGRID has two main businesses:
- Through Avangrid Networks manages a total of eight electricity and natural gas companies serving 3.2 million customers in New York and New England. These companies are The Berkshire Gas Company, Central Maine Power Company, Connecticut Natural Gas Corporation, Maine Natural Gas Corporation, New York State Electric & Gas Corporation, Rochester Gas and Electric Corporation, The Southern Connecticut Gas Company and The United Illuminating Company.
- Avangrid Renewables, in turn, has 7.1 gigawatts of generation capacity — mainly wind-powered —, in 22 states of the United States.
OUR PRESENCE IN THE UNITED STATES
Main facilities of AVANGRID, Inc. in the United States (June 2018).
AVANGRID is committed to a low-carbon energy model and in order to forge ahead with this line of business, it plans to invest 14.4 billion dollars in the grid and renewables business by 2022. The company has also committed itself to gradually phasing out its emissions, so as to be carbon neutral by 2035.
WE ARE COMMITTED TO CLEAN ENERGY
AVANGRID has consolidated its position as the third-ranking wind power producer in the United States. The company supports the UN's Sustainability Development Goals, received a Climate Development Project climate score of "A-," the top score received in the utilities sector, and has been recognized for two consecutive years by Ethical Boardroom as the North American utility with the best corporate governance practices.
It has recently been chosen as the preferred solution in the bidding process — pursuant to Section 83C of the Massachusetts Green Communities Act Section 83C RFP — for marine wind energy projects and a marine wind farm with a capacity of 800 MW through the company Vineyard Wind, in which it has a 50% stake.
Similarly, since March 2017, it has developed a marine wind facility off the coast of North Carolina.
As part of its commitment to clean energy, the Renewables subsidiary has also signed several agreements in recent years for long-term energy sales with large North American multinationals. These contracts, which are known as as Power Purchase Agreements (PPAs) in the United States, have provided stability to the company's investments in this strategic market.
Another important milestone has been the announcement of the deal to supply 100% hydroelectric power to Massachusetts' distribution companies within the framework of the project to connect the states of New England with clean energy producing areas. This project, known as New England Clean Energy Connect (NECEC), is carried out through Central Maine Power Company (CMP).
*AVANGRID, Inc. is 81.50% owned by Iberdrola S.A.