Avangrid CEO Pedro Azagra Underscores Commitment to U.S. Grid Investment at Global Power Markets Conference
At the prestigious S&P Global Power Markets Conference held this week, Avangrid, Inc.—a prominent sustainable energy company and a member of the global Iberdrola Group—reaffirmed its commitment to leading the charge in modernizing and strengthening the United States’ electric grid. Avangrid CEO Pedro Azagra joined a lineup of industry leaders to participate in an Executive Dialogue, offering critical insights into the company’s strategic investments and vision for the future of energy in the U.S.
Moderated by Jenny Yang, Global Head of Power and Renewables Research at S&P Global Commodity Insights, the session featured a near hour-long conversation with Azagra that attracted an audience of more than 400 energy professionals, utility executives, analysts, and policymakers. The dialogue explored current and future challenges of the U.S. energy sector, including rising demand, decarbonization strategies, renewable integration, grid modernization, and how companies like Avangrid are responding with scalable, forward-looking solutions.
Meeting America’s Growing Energy Demand
One of the central themes of Azagra’s discussion was the rapidly increasing demand for electricity across the United States—a trend driven not only by economic growth and electrification but also by the explosive expansion of energy-intensive data centers and emerging technologies such as artificial intelligence (AI). According to S&P Global, the U.S. electricity demand is projected to grow significantly over the next decade, reversing previous trends of flat or declining consumption.
In this context, Avangrid’s role as a reliable energy provider becomes increasingly critical. With a diverse portfolio of renewable and conventional power generation assets, Avangrid delivers electricity to millions of households and businesses across the country. The company operates in 24 states, providing clean energy from wind, solar, and natural gas sources, and owns eight electric and natural gas utilities serving approximately 3.3 million customers.
Azagra emphasized that the company’s strategy is not only about increasing generation capacity but also about doing so in a way that prioritizes reliability, sustainability, and community impact. “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,” he said. “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.”
A Historic $20 Billion Grid Investment Plan
A major highlight of the conversation was Avangrid’s unprecedented $20 billion investment plan to modernize, expand, and reinforce the nation’s aging electric grid. This long-term capital plan is one of the most ambitious grid-focused investments in the country and is designed to address a wide array of pressing challenges—from increasing energy capacity to enhancing resilience in the face of climate change.
“Our nation’s energy infrastructure is at a pivotal crossroads,” Azagra said. “We’re seeing higher demand than ever before, driven by digital transformation, clean energy goals, and climate adaptation. The grid of the past is not equipped to support the needs of tomorrow, and that’s why Avangrid is making this historic investment.”
According to Azagra, the $20 billion will be allocated to multiple initiatives across the company’s service territories, including:
- Upgrading transmission and distribution lines to reduce bottlenecks and accommodate more renewable generation.
- Hardening critical infrastructure to withstand increasingly frequent and severe weather events such as hurricanes, ice storms, and wildfires.
- Modernizing substations to include advanced monitoring, automation, and cybersecurity measures.
- Investing in digital tools and grid management systems to improve reliability and customer service.
Azagra pointed out that the goal isn’t merely to repair what’s broken but to build a future-ready grid that can enable the clean energy transition, facilitate electrification, and support grid-edge technologies like distributed energy resources (DERs), smart meters, and energy storage.
Reliability in a Changing Climate
A key motivator behind Avangrid’s grid investment is the increasing threat of climate-related disruptions. As severe weather events become more frequent and intense due to climate change, grid operators face mounting pressure to build systems that can withstand and recover quickly from such shocks.
“Reliability is no longer a luxury—it’s a necessity,” Azagra noted. “We are seeing more storms and extreme weather conditions that directly threaten energy supply and public safety. Our investment ensures that we are not only building new infrastructure but reinforcing and protecting what already exists.”
The company’s initiatives include the fortification of substations and overhead lines in vulnerable areas, deployment of underground cabling where feasible, and enhancements to vegetation management programs—all part of a proactive approach to mitigate risk and minimize outages.
Boosting American Manufacturing and Local Economic Impact
Another cornerstone of Avangrid’s strategy, which Azagra was eager to emphasize, is its commitment to local sourcing and domestic manufacturing. With supply chain resilience and economic development top-of-mind for both policymakers and industry leaders, Avangrid has taken meaningful steps to ensure that its investments benefit American workers and businesses.
“In 2024 alone, we spent $4.3 billion on purchases from U.S. suppliers,” Azagra said. “Today, 96% of our suppliers are based in the United States. That’s a deliberate choice because we believe in supporting American manufacturing, creating local jobs, and reducing dependencies on foreign supply chains.”
These efforts also align with broader goals around sustainability and social responsibility. By sourcing locally, Avangrid reduces transportation-related emissions and contributes to the development of green economies in the communities where it operates.
Beyond procurement, Avangrid’s projects help support tens of thousands of jobs in engineering, construction, operations, and maintenance—making the company a key driver of regional economic growth in states such as New York, Connecticut, Maine, and Oregon.
Partnerships and Innovation for the Energy Transition
Azagra’s dialogue also touched on the importance of collaboration and innovation. As the energy transition accelerates, no single company can succeed in isolation. Avangrid has therefore placed a strong emphasis on partnerships with technology companies, utilities, research institutions, and regulators to foster innovation and share best practices.
Among its recent initiatives is the launch of pilot programs to test advanced grid solutions such as vehicle-to-grid (V2G) integration, AI-powered load forecasting, and community solar programs. The company is also involved in offshore wind development through projects like Vineyard Wind, a joint venture that represents one of the first large-scale offshore wind farms in the U.S.
“Avangrid is committed to being a reliable partner in the clean energy transition,” Azagra said. “Whether it’s investing in the grid, supporting local economies, or collaborating with peers and policymakers, we’re building a future that delivers for all stakeholders—customers, communities, and the planet.”
A Bold Vision for U.S. Energy Infrastructure
As the Global Power Markets Conference concluded, one message from Pedro Azagra’s participation was clear: the future of energy in the United States depends on bold investments, resilient infrastructure, and collaborative leadership. Avangrid’s $20 billion grid investment, combined with its deep commitment to sustainability, local sourcing, and innovation, positions the company as a critical player in shaping the next chapter of America’s energy story.
With over 400 industry leaders in attendance, the Executive Dialogue served as a powerful reminder that the stakes are high—but so is the momentum. And as Azagra and Avangrid continue to lead by example, the future of energy infrastructure looks increasingly bright, resilient, and inclusive.
