Avangrid Announces $18.5 Billion Investment in Electric and Gas Network Infrastructure by 2028

Avangrid, an energy company and member of the Iberdrola Group, has announced Iberdrola’s plan to invest $18.5 billion in the U.S. by 2028, with the majority of investment directed toward grid and gas infrastructure.

The investment plan supports Avangrid’s ongoing commitment to invest, rebuild and strengthen grid and gas infrastructure across its New York and New England utility companies, which serve more than 3.4 million customers.

“With our commitment to invest $18.5 billion in the U.S. 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. “Avangrid’s $18.5 billion investment plan ensures the grid will support growing energy demand today, make it more resilient and accelerate economic competitiveness into the future.”

The capital investment plan will strengthen Avangrid’s role in energy by focusing on rebuilding and replacing aging infrastructure in electric and gas utilities, expanding capacity for Data Centers and large development projects, avoid increasing storm restoration costs, and provide more energy production for customers in states like New York, Maine and Connecticut. The investments will also harden grid infrastructure to increase resiliency against severe storms and lessen outages.