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

Iberdrola investment plan reflects commitment to the U.S. market focused on rebuilding and strengthening utility grid and gas infrastructure and meeting surging power demand

ORANGE, Conn.--(BUSINESS WIRE)--Avangrid, Inc., a leading energy company and member of the Iberdrola Group, announced Iberdrola’s plan to invest $18.5 billion in the United States by 2028, with the majority of investment directed toward grid and gas infrastructure. The investment plan, announced at Iberdrola’s Capital Markets Day on September 24, 2025, builds on 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. “As we continue to see advanced manufacturing and data center growth, demand for reliable energy infrastructure has never been greater. 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 further reinforce Avangrid’s role as a leader in America’s energy dominance 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 key states including New York, Maine and Connecticut. Continuing Avangrid’s commitment to providing the highest level of service to our customers, the investments will also harden grid infrastructure to increase resiliency against severe storms and lessen outages.

Avangrid’s investments have already supported over 70,000 U.S. jobs and added $10 billion to the nation’s GDP, strengthening communities and driving innovation. Avangrid is empowering people and communities by training workers for the energy careers of the future, helping local businesses and suppliers benefit from new economic opportunities, and expanding access to energy solutions for families nationwide.

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 committed to providing a safe and healthy workplace and has embedded a safety-first culture across its operations. This focus on safety, inclusion, and respect fuels high employee satisfaction and strengthens the company’s ability to deliver reliable service to 3.4 millions of customers every day.

With more than 10.5 gigawatts (GW) of generation capacity in 24 states and assets including gas and electric utilities throughout the northeast, Avangrid serves over 6 million homes and businesses across the U.S. Avangrid continues to expand its energy portfolio investing heavily in U.S. grid energy infrastructure.

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 $48 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 3.4 million customers in New York and New England. Through its power generation business, Avangrid owns and operates 80 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.