Avangrid Increases Investment with U.S. Suppliers to $4.3 Billion in 2024

Avangrid partners with over 7,000 suppliers in every U.S. state supporting tens of thousands of jobs

Avangrid increased its investment with U.S. suppliers by 16% compared to 2023

ORANGE, Conn.--(BUSINESS WIRE)--Avangrid, Inc., a leading energy company and member of the Iberdrola Group, today announced that it grew its investment with U.S. suppliers to $4.3 billion in 2024, representing a 16% increase compared to 2023 and affirming Avangrid’s commitment to supporting domestic jobs and manufacturing. By working with over 7,000 suppliers and sourcing from businesses in every state in the nation, Avangrid sources American-made equipment for its utility companies in the Northeast and its power generation operations across the country. Leveraging relationships with domestic manufacturers and suppliers is critical to the company’s ability to generate and deliver reliable and affordable electricity to homes and businesses.

“These figures are remarkable and demonstrate Avangrid’s commitment to supporting our domestic partner network,” said Avangrid CEO Pedro Azagra. “Year in and year out, our energy infrastructure projects not only enable Avangrid to deliver reliable and affordable power for homes and businesses but contribute local and regional economies across the continent. Avangrid is proud to support American companies and jobs through our supply chain.”

Avangrid partners with over 7,000 suppliers in all 50 states, showing the depth and breadth of its domestic supply chain.

Partnering With U.S. Manufacturers

Through a combination of major energy infrastructure projects and ongoing operations and maintenance, Avangrid’s investment in the American economy contributes to local manufacturing and jobs, while securing American energy independence. Key relationships with American businesses include:

Thomasson Company: Thomasson Company is a Mississippi-based business that makes treated wood poles from their mill in Macon, Mississippi, as well as other partner mills throughout the Southeast. They have been a key supplier to support Avangrid’s utility companies, and an important partner in the company’s response to storms. Thomasson Company is woman-owned and employs over 100 people at its facilities, showing a dedication to American manufacturing.

“The partnership between Thomasson Company and Avangrid has been vital to the success of our company,” said Craig Vowell, sales lead with Thomasson Company. “We are a proud, family-owned company that strives to contribute to our regional economy and supports the livelihoods of our employees. We look forward to future growth together.”

The Okonite Company: A key wire and cable supplier to Avangrid, The Okonite Company is proudly based in New Jersey and is a 100% employee-owned company (ESOT). This ensures that every team member is directly invested in the quality, innovation, and reliability of their products. Okonite manufactures critical electrical cable at several state-of-the-art U.S. facilities, including its domestic medium voltage manufacturing sites in South Carolina, Kentucky, and California.

“Okonite’s employee owners contribute to Avangrid’s mission with world-class products and services. Their partnership indirectly supports hundreds of employees, and every foot of cable we produce carries not just electricity, but the pride of the people who made it," said Jonathan Havey, vice president of sales and marketing.

Southwire: A longstanding cable supplier to Avangrid, Southwire Company, headquartered in Carrollton, Georgia, provides Avangrid vital equipment for infrastructure, transmission, and substation projects. Southwire has a multitude of manufacturing facilities across the U.S, including Alabama, Georgia, Indiana, Kentucky, Mississippi, North Carolina, and Texas.

Avangrid’s commitment to working with U.S. suppliers is critical to delivering on the company’s $20 billion investment plan for U.S. grid infrastructure through the end of the decade. This robust investment will draw on Avangrid’s U.S. supplier network to address rising energy demands from manufacturing and data center growth, while ensuring reliable and affordable power for homes and businesses across the country.

About Avangrid: Avangrid, Inc. is a leading energy company in the United States working to meet the growing demand for energy for homes and businesses across the nation through service, innovation, and continued investments by expanding grid infrastructure and energy generation projects. Avangrid has offices in Connecticut, New York, Massachusetts, Maine and Oregon, including operations in 23 states with approximately $47 billion in assets, and has two primary lines of business: networks and power. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its power generation business, Avangrid owns and operates more than 75 energy generation facilities across the United States producing 10.5 GW of power for over 3.1 million customers. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2025 for the fifth consecutive year. The company was named among the World’s Most Ethical Companies in 2025 for the seventh consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit http://www.avangrid.com.