2020-10-22 14:45:00
IBERDROLA, PNM ACQUISITION $8.3 BLN
ENERDATA - 22 Oct 2020 - The Spanish energy group Iberdrola, through its affiliate Avangrid, has acquired PNM Resources, the power utility of New Mexico and Texas, for a total consideration of US$8.3bn. This acquisition will turn Avangrid into one of the largest power utilities in the United States, with 10 regulated electricity companies in 6 states (New York, Connecticut, Maine, Massachusetts, New Mexico and Texas) and the 3rd largest renewable operator in the country, with a total presence in 24 states. The combined company will manage more than 4.1 million supply points, more than 168,000 km of networks and almost 11 GW of installed capacity. Iberdrola currently owns 1,900 MW of renewable energy and a pipeline of 1,400 MW renewables assets in New Mexico and Texas. The transaction, which is subject to approval, is expected to close in 2021.
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Earlier:
2020, October, 19, 14:25:00
EUROPE RENEWABLE ENERGY 23%
The EU-27 is projected to reach a share of renewable energy between 22.8% and 23.1% in gross final energy consumption in 2020.
2020, October, 9, 12:00:00
U.S. RENEWABLES EMPLOYMENT DOWN
The total number of jobs lost for the broader category of "clean energy" totaled over 477,862 at the end of September.
2020, October, 6, 15:50:00
U.S. ENERGY UPDOWN
Driven by unprecedented low fuel prices, gas power production increased by 7.1% during the first seven months from last year, while coal dipped dramatically by 27.5%.
2020, September, 25, 12:35:00
EUROPE'S CLIMATE TARGETS
These goals are appropriately ambitious, while also realistic and achievable. Climate change mitigation is not a luxury but a necessity if we want to avoid a climate crisis.
