Iberdrola steps on the accelerator in the United States. The first Spanish electricity company has launched the offshore wind farm Vineyard Wind Iin Massachusetts (USA), the first of this magnitude to be installed by the company chaired by Ignacio Galán in the North American country and which has involved an investment of 2.7 billion euros.
The news was released by the energy company itself this Thursday, days after learning of the group’s decision. give up the purchase of PNM Resourcesthe main electricity company in New Mexico and Texas, an operation for which the group had reserved 11,000 million euros and which represented the Spanish company’s biggest bet to get its foot in the country.
The step back with PNM has been received with optimism by the main analysts who, given the obstacles that were holding back the closing of the operation, have valued its failure as the end of uncertainty. However, the purchase represented a quarter of the total investments planned in the company’s strategic plan, something that will force the energy company to redesign your roadmapwhich will be presented on March 21.
Thus, Iberdrola has freed up 11 billion ammunition to invest in the US and other strategic markets, not only in mergers and acquisitions, but to grow organically. And this last path includes the park’s recent milestone. Vineyard Wind I, which Iberdrola plans to have at full capacity throughout the first months of 2024.
Equipped with 806 megawatts (MW) of capacity, the park has already begun to supply green energy to Massachusetts, from where wind electricity will be supplied to more than 400,000 homes, which is equivalent to “more than half of a city like Boston or the entire island of Mallorca”, explains Iberdrola in a note sent today.