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HomeLatest NewsSánchez Galán praises the regulation of the United States after planting Sánchez

Sánchez Galán praises the regulation of the United States after planting Sánchez

Date: March 29, 2024 Time: 03:13:27

Iberdrola values ​​the “regulatory stability” of the United States a few days after the president of the electricity company, Ignacio Sánchez Galán, did not attend the informal meeting held by the President of the Government, Pedro Sánchez, with the top managers of the companies in the Ibex 35 at the Davos Forum.

The president of the Spanish electricity company, Ignacio Sánchez Galán, appears in a photograph shaking hands with the president of the United States, Joe Biden. The company has issued a statement in which it indicates that it has exceeded 7,500 employees in its US subsidiary Avangrid, while at the same time generating a total of 70,000 jobs in the country through its purchases.

According to the company itself, the United States is the main destination for its investments, with more than 21,500 million dollars (19,723 million euros) for the three-year period 2023-2025. “Regulatory stability and the commitment of the different administrations to decarbonization have allowed Iberdrola to reinforce its commitment to the North American country,” Iberdrola stressed.

In the last three years (2020-2022), the company chaired by Ignacio Galán has invested 9,000 million dollars (8,255 million euros) in the United States, and only in 2021 it exceeded 3,000 million dollars.

In this way, Iberdrola is the third largest renewable energy company in the country by installed capacity, with a total of 9,450 megawatts (MW), and provides service to approximately 10 million people in the United States alone. Iberdrola’s installed renewable capacity in the United States is expected to reach approximately 10,000 megawatts by 2025, with growth of 70% in a decade.

Boost to offshore wind

Currently, it has two of the most relevant energy initiatives in the country in the field of renewables and grids underway, such as the construction of the Vineyard Wind 1 offshore wind farm, with a capacity of 806 megawatts, in Massachusetts waters, and the acquisition of PNM Resources, in New Mexico and Texas.

Likewise, at the beginning of 2022, through Avangrid, Iberdrola was awarded more than 2,000 megawatts of offshore wind capacity on the east coast: the Park City Wind (804 MW) and Commonwealth Wind (1,232 MW) offshore wind farms. These are added to the Kitty Hawk project (3,500 MW), in North Carolina waters.

The total investment in these three projects could exceed 10,000 million dollars (9,176 million euros) in this decade, and would generate clean energy for more than 1.5 million homes. In this sense, the intensity of Avangrid’s dioxide emissions is 6.5 times lower than the media of companies in the United States.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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