U.S. Electrical Grid Infrastructure to Gain $20B Investment from Avangrid by Kim Riley
Avangrid Inc., a leading energy company and member of the Iberdrola Group, said Wednesday it plans to invest $20 billion in United States electrical grid infrastructure through the end of the decade. Executives discussed how growing energy demand requires a critical need to invest in energy infrastructure, and that the U.S. is a top investment destination as Avangrid and Iberdrola modernize and expand the country’s electrical grid. They also noted that the investment plan could also include opportunities for new generation. Avangrid has about $50 billion in assets in the United States across 23 states and employs over 8,000 people. Its eight electric and gas utilities in the Northeast serve more than 3.3 million customers. Avangrid also owns and operates about 10.5 gigawatts of electric generation capacity, capable of producing enough electricity to power over three million homes. U.S. electrical grid infrastructure to gain $20B investment from Avangrid – Daily Energy Insider