The Diplomat
Iberdrola was the only energy company and the only Spanish company present at Tuesday’s signing at the White House of Joe Biden’s Infrastructure Bill, which will mark a turning point in US public investment policy, with an ambitious $1.2 trillion plan.
On the South Lawn of the White House, the US President invited numerous representatives of companies that will participate in the ambitious infrastructure plan, which aims to achieve the greatest modernisation of infrastructures in more than a decade and spur the green recovery of the economy.
Among the invited companies was Iberdrola, the world’s second largest private electricity company, which will actively participate in the plan.
Iberdrola’s subsidiary in the United States, Avangrid, represented by its CEO, Dennis Arriola, is “the spearhead in the United States of one of the most ambitious projects of Spanish businessman Ignacio Sánchez Galán”, according to the company.
Iberdrola, which owns 86% of Avangrid’s shares, is the company’s investment arm in the US. Avangrid went public on 17 December 2015 following the merger of Iberdrola USA and the UIL group.
