Avangrid to Invest $18.5B in US Grid and Gas Infrastructure by 2028

In a significant move to bolster energy infrastructure in the United States, Avangrid, part of the Iberdrola Group, has laid out plans for a substantial $18.5 billion investment by 2028. The primary focus of this investment will be on enhancing grid and gas systems.

This strategic investment is a part of Avangrid’s broader initiative to enhance and modernize the grid and gas infrastructure across its service areas in New York and New England, impacting over 3.4 million customers.

Jose Antonio Miranda, the CEO of Avangrid, emphasized the company's dedication to this effort, stating, “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.”

The financial plan not only focuses on the renewal and substitution of outdated electric and gas utilities but also aims to enhance capacity for data centers and major projects. It seeks to mitigate rising storm restoration costs and increase energy production for customers in regions such as New York, Maine, and Connecticut. Additionally, enhancing the resilience of the grid will be prioritized to better withstand severe weather conditions and minimize outages.