Pedro

The CEO of Avangrid – the American subsidiary of Spain's Ibedrola energy company – feels that the market is robust for renewables.

We have to have zero failures in regulatory issues, zero failures in operations. we want to do so many things and we don’t always have the financial capacity for everything we have on the table. We are waiting for our hearing – which we hope will be soon – and a final decision from the court. it’s almost like setting up a new network the size of the one we already had in place.” The money we raise [from the offering] will all be reinvested.” Avangrid currently owns 100% of Commonwealth Wind (1,200 MW in Massachusetts), Park City Wind (804 MW in Connecticut) and Kitty Hawk Wind (2,500 MW off the coast of North Carolina). Recently, Iberdrola announced an agreement with Energy Infrastructure Partners (EIP) for the sale of 49% of its Wikinger Offshore Windfarm – in German waters of the Baltic Sea — for 700 million euros. “Investment in networks goes hand-in-hand with the deployment of renewables. Even during the presidency of Donald Trump, we didn’t stop developing renewables in the United States. We need the support of politicians in granting permits and ensuring a stable and predictable framework. Do we still have our opponents, like the gas companies? We have a 10-year-long framework that gives us a lot of peace of mind. Azagra spoke to EL PAÍS in the New York Stock Exchange building, where, last week, he presented the company’s plans to analysts and investors.