Iberdrola’s Avangrid Signs US Power Deal

Avangrid has signed a contract with SmartestEnergy for the full power capacity from two of Avangrid’s energy projects in New Hampshire. The deal, which is the first offtake agreement between the companies, covers 72MW of power from the Lempster and Groton energy projects.

According to Jose Antonio Miranda, CEO, Avangrid, the agreement reflects a proactive approach to managing Avangrid's existing fleet of energy projects. He said the projects will continue to generate electricity for homes and businesses in the Northeast.

The Lempster wind energy project, a 24MW facility, began operations in 2008 in Sullivan County. It was the state's first modern, commercial-scale wind farm. The Groton wind energy project, a 48MW facility, came online in 2012 in Grafton County. The two projects support 10 permanent jobs for operations and maintenance in the community. Last year, the two projects contributed a combined US$1.8 million in state and local taxes, and have contributed nearly US$30 million in combined taxes since their construction.

Avangrid, a member of the Iberdrola Group, has operations in 23 states and owns 10.5GW of power capacity from 80 projects.

This agreement is a partnership that Andy Cormie, CEO, SmartestEnergy, said will provide a reliable and competitive route to market for Avangrid’s wind assets. He stated that the agreement reflects a focus on building partnerships that drive long-term value and support the clean energy transition.

Iberdrola Leaves Mexico

In 2025, after more than two decades of operations in Mexico, Iberdrola completed its full exit from the country's energy generation market by selling its remaining Mexican assets to the Spanish company Cox (Grupo Cox) in a transaction valued at approximately US$4.2 billion, including debt.

The portfolio comprised 15 power plants totaling about 2.6GW of installed capacity, split between 1.368GW of natural gas–fired combined-cycle and cogeneration facilities and 1.232GW of wind and solar projects, along with a pipeline of development-stage renewable generation. The Mexican government, represented by President Claudia Sheinbaum and the Ministry of Energy (SENER), welcomed the orderly and legal transition. 

Cox was recognized as a trusted and legally compliant actor, aligning with the regulatory goals of the Plan México framework. With this move, Cox positioned itself for long‐term growth in Mexico, planning to invest more than US$10.7 billion in energy and water infrastructure between 2025 and 2030, and potentially pursuing co‐investment opportunities with CFE.