Regulatory stability and the commitment of the different administrations to decarbonization have helped Iberdrola, the main electricity company in Europe and one of the four largest in the world by market capitalization, to strengthen its commitment to the United States, the main destination for investments in the group, with more than 21.5 billion dollars planned in the 2023-2025 triennium. The number of employees of the American subsidiary of the Group, AVANGRIDexceeds 7,500 and the company generates through its investments and you buy a total of 70,000 jobs in the country.
The combination of grid businesses and renewable energy generation is one of the main differentiators of the company, positioned to fully capitalize on all the benefits derived from the energy transition. In the last three years (2020-2022), the company chaired by Ignacio Galán has invested 9,000 million dollars in the United States, and only in 2021 it exceeded 3,000 million dollars.
In the activity of electricity transmission and distribution networks, the company is making investments in modernization and digitization, in order to increase the quality of service and resilience in the face of extreme weather events and to enable the integration of more clean energies into the system. Also, It is the third largest renewable energy company in the country by installed capacity and leads the development of offshore wind energy, a fundamental vector of the energy transition, with a project portfolio of more than 6,000 MW. Iberdrola’s installed renewable capacity in the United States is expected to reach approximately 10,000 MW by 2025, with growth of 70% in a decade.
In less than two decades, Iberdrola has become one of the largest groups in the North American electricity sector, Listed since 2015 on the New York Stock Exchange.
On September 13, 2022, Iberdrola and AVANGRID were invited to the event at the White House for the approval of the Inflation Reduction Act, a historic law to support renewable energy and fight climate change in the United States.