Iberdrola’s Avangrid to acquire PNM Resources to create $20 billion US clean powerhouse

Spain’s Iberdrola has announced an $8.3 billion deal (including debt), adding PNM Resources to its Avangrid business. The combined entity will encompass 10 regulated electricity suppliers across six states, with 4 million customers ranging from Avangrid’s stronghold in New England and New York to PNM Resources’ base in the Southwest.

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