Iberdrola has agreed to acquire the remaining 18.4% minority stake in its US subsidiary, Avangrid, completing the acquisition. The acquisition price is $35.75 per share, totaling a $2.551 billion investment. Following the transaction, Avangrid shares will be delisted from the New York Stock Exchange. This decision follows a recommendation from a Special Committee of independent directors. Both Iberdrola’s and Avangrid’s Boards of Directors unanimously approved the agreement. The transaction aims to strengthen Iberdrola’s presence in the US networks business during a strategic growth phase. It is subject to shareholder and regulatory approvals, including from the Federal Energy Regulatory Commission and state commissions in New York and Maine. Headquartered in Connecticut, Avangrid has $44 billion in assets and operates in 24 US states.
Avangrid to be fully owned by Iberdrola
Iberdrola’s acquisition aims to reinforce its position in the US networks business, targeting growth in stable, regulated markets. (Image Credit: Iberdrola)
AfDB funded two 15 MW solar plants in Chad to generate 61 GWh annually and cut emissions by 49,000 tons per year. (Image Credit/Source: LCEC/Pixabay)
Algeria and GE Vernova discussed 15 GW renewable energy projects, including solar, as Sonelgaz led talks in Atlanta. (Image Source:Zawya)
LRE powered up Morrow Lake Solar, supplying 200 MW to Microsoft with innovative solar tech and eco-friendly land use. (Image Credit/Source: StockSnap/Pixabay)
re:cap green energy acquired 51.7 MW solar projects from Milvio Energy, with completion expected between Q1 and Q4 of 2025. (Image Credit/Source: TheOtherKev/Pexels)