Norbolsa | Iberdrola has surpassed 7,500 employees at its US subsidiary Avangrid, while at the same time generating a total of 70,000 jobs in the country through its purchases and investments.
As the electricity company explained in a statement, the United States is the main destination for its investments, with more than $21,500 million (€19,723 million) for the three-year period 2023-2025. Regulatory stability and the commitment of the different administrations to decarbonisation have allowed Iberdrola to strengthen its commitment to the North American country.
In the last three years (2020-2022), the company chaired by Ignacio Galán has invested $9 billion (€8,255 million) in the United States, and in 2021 alone it exceeded $3 billion.
Iberdrola is the third largest renewable energy company in the country in terms of installed capacity, with a total of 9,450 megawatts (MW), and serves approximately 10 million people in the United States alone. Iberdrola’s installed renewable capacity in the US is expected to reach approximately 10,000 megawatts by 2025, with 70% growth in a decade.
Boosting offshore wind
Iberdrola currently has two of the country’s most important renewable energy and grid initiatives underway, including the construction of the Vineyard Wind 1 offshore wind farm, with 806 megawatts of capacity, in Massachusetts waters, and the acquisition of PNM Resources, in New Mexico and Texas.
Also, in early 2022, through Avangrid, Iberdrola was awarded more than 2,000 megawatts of offshore wind capacity on the East Coast: the Park City Wind (804 MW) and Commonwealth Wind (1,232 MW) offshore wind farms. These are in addition to the Kitty Hawk project (3,500 MW) in North Carolina waters.
The total investment in these three projects could exceed $10 billion (€9.176 billion) in the current decade and would generate clean energy for more than 1.5 million homes. In this regard, Avangrid’s carbon intensity is 6.5 times lower than that of the average US company.
