Iberdrola Grows U.S. Renewables Role with Wind, Solar Buildouts

April 27, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Global renewable-energy giant Iberdrola S.A. (Bilbao, Spain) is looking forward to the rest of 2023, forecasting an acceleration in investments toward the middle of the year and an overall improvement in business conditions. In the U.S., Iberdrola executives pointed to improved pricing and a jump in power generation, following new installed capacity.

Industrial Info is tracking $22 billion worth of active projects from Iberdrola across the U.S., with more than 70% attributed to grassroot or unit-addition projects. Like many developers in the same market, Iberdrola has faced an uphill battle in building U.S.-based offshore wind projects. But Avangrid Incorporated (NYSE:AGR) (Orange, Connecticut), a subsidiary of Iberdrola, soon will see years of persistence pay off when it begins constructing a windfarm offshore Massachusetts.

Other companies featured: General Electric (NYSE:GE)