The Diplomat
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, the company said in a statement.
In 2021 alone, Iberdrola’s investments in the United States exceeded 3 billion dollars and, for the three-year period 2020-2022 as a whole, rose to 9 billion dollars (8.255 billion euros).
These figures make the United States the main investment destination for the company chaired by Ignacio Sánchez Galán, which plans to invest more than 21,500 million dollars (19,723 million euros) in the country between 2023 and 2025.
Regulatory stability and the commitment of the different administrations to decarbonisation have allowed Iberdrola to strengthen its commitment to the North American country. According to the press release
Iberdrola has become 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 United States is expected to reach approximately 10,000 megawatts by 2025, with a 70% growth in a decade.
Iberdrola currently has two of the country’s most significant renewable energy and grid initiatives underway, including the construction of the 806-megawatt Vineyard Wind 1 offshore wind farm in the waters off Massachusetts 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 dollars (9.176 billion euros) 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 the average US company.
