AVANGRID is also a Real Estate Investment Trust (REIT), meaning it focuses on investing in, owning, and operating income-producing real estate. The company’s portfolio consists of over 9.9 million square feet of space across the United States, with a focus on office and industrial buildings. Avangrid is dedicated to developing long-term relationships with tenants while ensuring its portfolio is maintained to the highest standards. The company works to ensure these investments are efficient and successful for all stakeholders, including customers, employees, and investors. Through this commitment to excellence, AVANGRID continues to be an industry leader in real estate investments.
Avangrid has two business units: Networks and Renewables. The Networks unit operates eight regulated electricity and natural gas utilities, which serve over 3 million customers in New York, Maine, Connecticut, and Massachusetts. Meanwhile, the Renewables unit has previously focused on onshore wind projects but is planning to expand to solar and offshore wind energy over the next five years. It currently manages more than 8.6 gigawatts of renewable energy capacity throughout the United States. Avangrid was created in 2015 when Spanish utility Iberdrola spun off its former subsidiary Iberdrola USA. Iberdrola still owns 81.5% of Avangrid.
With Avangrid’s growing focus on renewable energy and real estate investments, the company is well-positioned for future growth as it continues to make strides in sustainability. By investing in sustainable products and practices, Avangrid is committed to leading the way toward a greener, more comfortable tomorrow.
AVANGRID’s commitment to its customers and shareholders alike has gained the company a respected reputation in the energy and investment industry. AVANGRID is dedicated to making sure its assets are used responsibly and efficiently, setting a high bar for investing practices that other companies strive to meet. Investment in industries such as renewable energy and real estate will continue to position Avangrid well for growth into the future.