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06/06/2022

Pedro Azagra Assumes Role of AVANGRID Chief Executive Officer

Pedro Azagra Assumes Role of AVANGRID Chief Executive Officer

ORANGE, Conn. — June 6, 2022 — AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, today announced Pedro Azagra Blázquez has officially assumed the role of Chief Executive Officer of AVANGRID. Azagra brings to the team a deep familiarity with the AVANGRID businesses and extensive experience in the U.S. energy sector. 

“I’m honored to lead AVANGRID as we continue to accelerate the transformation to a clean energy future,” said Azagra. “AVANGRID is a true leader in ESG+F. I’ve had the privilege to be involved with the organization for many years, including leading the company into the offshore wind space, and I’m proud of AVANGRID’s leadership in the energy industry. I look forward to taking our company to the next level as we continue to raise the bar, be bold and think innovatively.”

Azagra has served as a member of the AVANGRID Board of Directors since 2019, and previously served as a member of the Board of Directors from 2014 to 2018. He also serves as a member of the Executive Committee of the Board of Directors and the Special Committee of the Board of Directors, which is responsible for, among other things, assisting the Board of Directors with oversight of the New England Clean Energy Connect (NECEC) transmission line project.

Azagra serves as the Chief Development Officer for Iberdrola, S.A., where he has executed more than one hundred transactions and led the international expansion of Iberdrola. In addition, he serves as a member of the board of directors of Neoenergia, S.A., a member of the Iberdrola group of companies listed on the São Paulo Stock Exchange.

“Pedro’s substantial experience in the Iberdrola Group, globally and in the U.S., as well as the strong relationships he has built in the country over the years, make him a natural choice to lead the company and execute our long-term strategy,” said Ignacio Galán, Chairman of AVANGRID. “Pedro knows the U.S. market well. I am very confident that under his leadership we will continue to build on AVANGRID’s strong reputation as a leading sustainable energy company in the U.S., both in Networks and Renewables”

In addition to serving on AVANGRID’s Board of Directors, Azagra has advised the company in connection with the merger proceedings with PNM Resources and previously led 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.  He also led AVANGRID’s entry into the U.S. offshore industry through the joint venture his team developed with Copenhagen Infrastructure Partners. In these and in other important AVANGRID matters, he led regulatory strategy and regularly provided testimony on our governance commitments and customer benefits. Formerly, Azagra led the U.S. businesses of Iberdrola Group and served as Director of Strategy. He previously served as a member of the board of directors of Energy East, Rochester Gas and Electric, and New York State Electric & Gas.

Azagra has 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, and a Master of Business Administration from the University of Chicago.

About Avangrid

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

 

About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.

With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.

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