Iberdrola, a global energy utility based in Spain, has completed the acquisition of the remaining 18.4% of shares in its U.S. subsidiary, Avangrid, further strengthening its position in the North American energy market. Avangrid shareholders will receive $35.75 per share, and the company will cease trading on the New York Stock Exchange. This strategic move was approved by key regulatory bodies, including the Federal Energy Regulatory Commission (FERC), Maine’s state regulator, and New York’s state regulator.
With the transaction completed, Avangrid will operate as a privately held company, maintaining its headquarters in Connecticut. The acquisition should enable Iberdrola to invest more efficiently in the U.S., with Avangrid poised to launch new energy projects focused on strengthening its networks and expanding renewable capacities.
Avangrid, established nearly a decade ago through the merger of Iberdrola’s U.S. assets with UIL Holdings, has grown into a leading energy provider. Today, it manages assets valued at $46 billion, serves 7 million customers across New York, Connecticut, Maine, and Massachusetts, and boasts 8,700 MW of renewable energy capacity across 24 states. With approximately 8,000 employees, Avangrid is a cornerstone of Iberdrola’s U.S. operations.
