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The leading energy company Iberdrola announced that its subsidiary Avangrid agrees to acquire an energy holding company PNM for approximately $4.3 billion.

  • Iberdrola currently owns 1,900 MW of renewable energy and a pipeline of 1,400 MW renewables assets in New Mexico and Texas.
  • In addition, Iberdrola operates a retail business in Texas.

The prominent expansions and deals by Iberdrola are featured below:

July 2020: The leading fertilizer company Fertiberia had signed an agreement with energy company Iberdrola to construct the largest plant to produce green hydrogen for industrial use in Europe with an investment of approximately $170 million.

May 2020: Iberdrola announced that it signed an agreement for the acquisition of Aalto Power, a French renewable energy company for approximately $108 million. Aalto Power already has 118 megawatts (MW) of onshore wind generation operating in France.

May 2020, Iberdrola Clientes, Iberdrola Group’s company in Spain, had produced a million masks, 20,000 pairs of protective goggles and 5,390 medical gowns, which will be distributed among their units during the coming days. The company has proceeded in compliance with ministry guidelines.

March 2020, Iberdrola donated €22 million in protection and medical supplies to Spain’s health service. Specifically, the company has acquired 450 ventilators, 4.6 million masks, 120,000 protective coveralls and 20,000 pairs of protective eyewear by signing four major contracts with Chinese companies.

February 2020, Iberdrola expanded in Spain with the construction its first photovoltaic plant in Aragon, with 50 MW of installed power, located in the municipality of Azaila, in Teruel province.

About Iberdrola
Iberdrola, headquartered in Bilbao, Spain, is a one of the world’s biggest electricity utilities firm. The company is a global energy leader, the number-one producer of wind power. The company supplies energy to almost 100 million people in dozens of countries, has more than 600,000 shareholders, a workforce comprising more than 35,000 employees.

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