Chief Executive Officer of Avangrid 

 

Pedro Azagra is the Chief Executive Officer of Avangrid, a member of the Iberdrola Group, and serves on the Avangrid Board of Directors (BOD) as well as the Neoenergia Board of Directors and Audit Committee. He was appointed to the position of CEO in May 2022 and has served on the Avangrid BOD since 2019.

Mr. Azagra has also been a member of the Boards of Siemens Gamesa, Iberdrola Mexico, Energy East, Rochester Gas and Electric, New York State Electric & Gas Corporation, Iberdrola Portugal, and Rokas.

Before his journey with Avangrid, Mr. Azagra demonstrated his leadership expertise as Chief Development Officer and member of the Operating Committee of Iberdrola since 2008. His executive tenure is marked by the accelerated growth he led for Iberdrola in Europe, Latin America, and the U.S. As Chief Development Officer, Mr. Azagra played a pivotal role in expanding the Iberdrola Group’s business in the U.S.

Mr. Azagra’s strategic vision and execution have facilitated more than 120 transactions worldwide, exceeding $120 billion and paving the way for Iberdrola’s entry into new markets such as the U.S., U.K., Brazil, Greece, France, Japan, Australia, Sweden, Poland, and the Philippines.

His significant contributions in a key global executive capacity have been instrumental to the success of the Iberdrola Group in the U.S. These include leading the $4.7 billion acquisition and integration of Energy East Corporation in 2008 and the $17.9 billion merger and integration of Avangrid (formerly known as Iberdrola USA) and UIL Holdings in 2015. 

His responsibilities encompassed obtaining regulatory approvals for mergers in New York, Maine, and Connecticut; and managing relations with federal agencies such as the Federal Energy Regulatory Commission, the Committee on Foreign Investment in the United States, and the Nuclear Regulatory Commission.

He also led Avangrid’s entry into the U.S. offshore industry, which has become a significant part of the company’s Renewables strategic business. Avangrid’s Renewables business owns and operates nearly 9 gigawatts of electricity capacity, primarily through wind and solar power, and has a presence in 24 states across the U.S.

Previously, Mr. Azagra served as Iberdrola’s Director of Strategy from 1997 to 2001. From 2001 to 2008, he spearheaded the Group’s corporate development activities, shaping Iberdrola’s 2001-2006 Strategic Plan. 

Prior to joining the Iberdrola Group, Mr. Azagra honed his skills at Morgan Stanley in London and New York in the investment banking division, advising on equity and debt transactions.

Institutional activity and recognition of Pedro Azagra

Pedro Azagra earned a degree in Law and Business Administration from the Instituto Católico de Administración y Dirección de Empresas (ICADE) at the Universidad Pontificia de Comillas in Madrid, as well as a Master’s Degree in Business Administration from the University of Chicago.  He has been imparting his knowledge as Professor of Corporate Finance and Mergers and Acquisitions at the Universidad Pontificia de Comillas, in Madrid, Spain for over 20 years. 

In April 2024, Mr. Azagra was named a Trailblazer in Clean Energy by City & State. This award recognizes the innovators and groundbreakers in New York’s clean energy sector who are developing revolutionary clean energy tech, implementing groundbreaking programs, advocating for transformative policies, enhancing economic opportunities and leading the charge toward a clean energy future.