Avangrid Announces $18.5bn Network Infrastructure Investment

Avangrid, the North American arm of Spanish electrical utility Iberdrola, has announced a $18.5 billion investment plan into electric and gas network infrastructure within the US by 2028. 

The investment will focus on rebuilding and replacing aging infrastructure in electric and gas utilities, expanding capacity for data centers and large-scale development projects, reducing the need for increased storm restoration costs, and increasing energy production for customers in states, including New York, Maine, and Connecticut.

“With our commitment to invest $18.5bn in the US energy sector, Avangrid is focused on building and strengthening the infrastructure that unlocks innovation, drives economic growth, and secures the nation’s energy future,” said Avangrid CEO Jose Antonio Miranda.

“As we continue to see advanced manufacturing and data center growth, demand for reliable energy infrastructure has never been greater. Avangrid’s $18.5bn investment plan ensures the grid will support growing energy demand today, make it more resilient, and accelerate economic competitiveness into the future.”