Iberdrola has just hit the table at Avangrid. The Spanish electricity company has appointed Pedro Azagra, CEO of the company, replacing Dennis Arriola, who will leave the company as of May 28.

Azagra was the father of the purchase operation of Energy East and UIL -the germ of the current Avangrid- and has led the purchase of PNM Resources, which is currently paralyzed and in the middle of the legal process.

The director, head of mergers and acquisitions of the electricity company, has been on the board of Avangrid since 2019, and was previously a member of the Board of Directors from 2014 to 2018.

Azagra is also a member of the Executive Committee of the Council and of the Special Committee of the Council, which is in charge, among other things, of assisting the Board of Directors in the supervision of the New England Clean Energy Connect (NECEC) transmission line project, which It is also paralyzed and in the middle of a judicial process.

The power company also faces another problem with the Vineyard Wind offshore wind farm, where the fishermen have also gone to court.

With all these challenges on the table, Azagra will have to take charge of the company and is expected to leave his position as Iberdrola’s Director of Development, where he has carried out more than one hundred operations and has directed Iberdrola’s international expansion. In addition, the manager is a member of the board of directors of Neoenergia, a member of the Iberdrola group of companies listed on the São Paulo Stock Exchange.

Azagra has a degree in Law and Business Administration from the Catholic Institute of Business Administration and Management (ICADE) of the Universidad Pontificia de Comillas in Madrid, and has an MBA from the University of Chicago.

“Pedro knows Avangrid and the US market well. I am very sure that, under his leadership, we will continue on the path of performance based on ESG+F and the focus of being the leading company in sustainable energy in the United States,” said Ignacio. Galán, President of the electric company. “Over the years, Pedro has built strong relationships in the United States with the main players in our sector.”


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