Avangrid CEO Pedro Azagra Highlights Urgent Need For Grid Investment At Global Power Markets Conference

Avangrid, Inc., a prominent U.S. energy company and part of the Iberdrola Group, recently took part in the S&P Global Power Markets Conference. The event featured Avangrid CEO Pedro Azagra in an Executive Dialogue moderated by Jenny Yang, the Global Head of Power and Renewables Research at S&P Global Commodity Insights. The session, which attracted more than 400 industry leaders, focused on the growing demand for energy across the United States and highlighted Avangrid’s role in delivering reliable power to millions of homes, businesses, and an expanding number of data centers.

During the discussion, CEO Azagra emphasized Avangrid’s commitment to a $20 billion investment aimed at modernizing and expanding the country’s aging electric grid. This significant investment is designed not only to meet the surging demand for electricity but also to strengthen the grid’s resiliency and capacity. A key objective of the upgrade is to improve the reliability of power delivery, particularly during extreme weather events, which are becoming more frequent and severe.

Pedro Azagra, CEO at Avangrid, mentioned, “The Global Power Markets Conference is an invaluable opportunity to engage with industry leaders and share Avangrid’s commitment to helping the nation meet its energy demand in an evolving energy landscape. I was encouraged by the conversations and partnerships emerging from this week’s conference and can say Avangrid is a committed partner and leader in the U.S. energy future.”

The $20 billion initiative includes major upgrades to substations and transmission lines, ensuring a more robust and future-ready energy infrastructure. In addition to technical improvements, Avangrid is placing a strong emphasis on local sourcing and manufacturing as part of its broader sustainability and community support strategy. Notably, 96% of the company’s suppliers are based in the United States.

In 2024 alone, Avangrid spent $4.3 billion on purchases from American suppliers, reinforcing its dedication to supporting local economies and sustaining tens of thousands of jobs across the country. Through its investments in grid infrastructure and commitment to domestic sourcing, Avangrid is not only preparing to meet the nation’s energy challenges but also actively contributing to the economic well-being of the communities it serves.