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Iberdrola

All articles tagged with #iberdrola

business-and-finance2 years ago•2 min saved

"Avangrid Cancels $8.3 Billion Acquisition of PNM Resources"

Iberdrola's U.S. subsidiary, Avangrid, has called off its $8.3 billion acquisition of PNM Resources due to the failure to obtain all necessary regulatory approvals by the end of 2023. The New Mexico Public Regulation Commission had previously rejected the deal, citing more risks than benefits for state ratepayers. Despite the termination of this deal, Avangrid remains committed to investing in renewable energy projects across the United States, including wind and solar developments in New Mexico and large-scale projects in New York, Maine, and the first large-scale offshore wind project, Vineyard Wind. Iberdrola continues to focus on substantial investments in the U.S., with a significant budget allocated for investments between 2023 and 2025.

via Reuters.com|

##avangrid #business-and-finance

business-and-finance2 years ago•0 min saved

"Iberdrola's Avangrid Cancels $8.3 Billion PNM Resources Takeover Deal"

Spanish energy giant Iberdrola has canceled its planned $8.3 billion acquisition of the US-based power utility PNM Resources. This decision marks a significant shift in Iberdrola's expansion strategy within the North American energy market. The reasons behind the termination of the deal have not been detailed in the provided text.

via Financial Times|

##acquisition #business-and-finance

business2 years ago

Mexico acquires Iberdrola power plants in major nationalization move.

Iberdrola has sold $6bn of power assets in Mexico, hailing it as a "new nationalisation" as the country's state-owned utility CFE takes over the assets. The Spanish energy company is pivoting towards the US, where it plans to invest $14bn over the next four years.

via Financial Times|

#business #iberdrola #mexico

energy2 years ago•3 min saved

Mexico's $6 Billion Power Plant Deal with Iberdrola Signals New Nationalization

The Mexican government has agreed to buy 13 power plants from Spanish energy giant Iberdrola in a deal worth $6 billion, which Mexico's president hailed as a "new nationalization" of the electricity market that will amp up state control. The deal is scheduled to be completed within five months, officials said, at which point the CFE will operate the plants, although the vast majority of their capacity was already under contract to be sold to the state company.

via Reuters.com|

#energy #iberdrola #mexico