Post by account_disabled on Mar 13, 2024 22:42:46 GMT -5
Iberdrola buys PNM Resources in the US, in a deal worth $bn (£bn), through its subsidiary Avangrid. They have made this known in a statement.
The integration into its Avangrid subsidiary will create the third largest renewable energy operator in the US.
PNM is a regulated public util Caseno Email List ity in New Mexico whose operations are primarily engaged in the generation, transmission and distribution of electricity. It is the largest electricity supplier in the state.
PNM supplies more than , New Mexico residential and commercial customers in Greater Albuquerque, Rio Rancho, Los Lunas, Belen, Santa Fe, Las Vegas, Alamogordo, Ruidoso, Silver City, Deming, Bayard, Lordsburg and Clayton. They also serve the New Mexico tribal communities of Tesuque, Cochiti, Santo Domingo, San Felipe, Santa Ana, Sandia, Isleta and Laguna Pueblos (parts of the Eastern reservation area). PNM is regulated by the New Mexico Public Regulation Commission and the Federal Energy Regulatory Commission.
The integration that emerges with Iberdrola in the Avangrid purchase will create one of the largest companies in the US public services industry, with regulated electric companies in six states, as well as the third largest renewable energy operator in the US. USA, with a total presence in states.
The combined company will have assets worth more than $ billion (£ billion) and net profit of $ million (£ million).
The combination of Avangrid and PNM will manage more than million supply points, a regulated asset base of $ billion (£ billion), more than , km of networks and around , GW of installed capacity.
Ignacio Galán, president and CEO of Iberdrola and president of Avangrid said: “The agreement aligns with the strategy we have been following for more than years. Transactions, focused on regulated businesses and renewable energies, in countries with good credit ratings and legal and regulatory stability, offering opportunities for future growth.”
The integration into its Avangrid subsidiary will create the third largest renewable energy operator in the US.
PNM is a regulated public util Caseno Email List ity in New Mexico whose operations are primarily engaged in the generation, transmission and distribution of electricity. It is the largest electricity supplier in the state.
PNM supplies more than , New Mexico residential and commercial customers in Greater Albuquerque, Rio Rancho, Los Lunas, Belen, Santa Fe, Las Vegas, Alamogordo, Ruidoso, Silver City, Deming, Bayard, Lordsburg and Clayton. They also serve the New Mexico tribal communities of Tesuque, Cochiti, Santo Domingo, San Felipe, Santa Ana, Sandia, Isleta and Laguna Pueblos (parts of the Eastern reservation area). PNM is regulated by the New Mexico Public Regulation Commission and the Federal Energy Regulatory Commission.
The integration that emerges with Iberdrola in the Avangrid purchase will create one of the largest companies in the US public services industry, with regulated electric companies in six states, as well as the third largest renewable energy operator in the US. USA, with a total presence in states.
The combined company will have assets worth more than $ billion (£ billion) and net profit of $ million (£ million).
The combination of Avangrid and PNM will manage more than million supply points, a regulated asset base of $ billion (£ billion), more than , km of networks and around , GW of installed capacity.
Ignacio Galán, president and CEO of Iberdrola and president of Avangrid said: “The agreement aligns with the strategy we have been following for more than years. Transactions, focused on regulated businesses and renewable energies, in countries with good credit ratings and legal and regulatory stability, offering opportunities for future growth.”