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Iberdrola Completes Avangrid Acquisition, Focuses on US Transmission Networks Amid Shift to Regulated Markets

Iberdrola has fully acquired its US subsidiary, Avangrid, following two years of delays in the approvals process. The acquisition will shift focus towards Avangid/Iberlrola’s US transmission networks business, which currently owns and operates eight electric and natural gas companies. 40% of Iberdola’s Q1 2024 investment was into its transmission business, a record investment for the company. The company plans to grow in markets with strong credit ratings and regulated businesses. This comes as US utilities are shifting operations towards transmission infrastructure and regulated markets, with utilities recently disposing of utility-scale solar assets in unregulated markets in favour of investments in their own regulated markets.

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