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Iberdrola, through its U.S. subsidiary Avangrid, has secured the final regulatory approval needed for the New England Clean Energy Connect (NECEC) transmission project, following authorization from the Maine Department of Environmental Protection. The decision clears the way for one of the Northeast’s largest cross-border clean-energy infrastructure developments.

The NECEC line will deliver hydroelectric power from Quebec to New England along a 233-kilometer high-voltage corridor with a capacity of 1,200 MW—enough to supply approximately 1.2 million homes. The project is expected to reduce annual emissions by up to 3.6 million metric tons of CO₂ and has generated more than 1,600 construction jobs. Full operation is targeted by the end of the year.

The approval aligns with Iberdrola’s 2028 strategy, which includes more than US$17.3 billion (€16 billion) in U.S. investments focused on electricity and gas networks.

Separately, Iberdrola completed the sale of its Mexican assets to COX ABG Group for US$4.2 billion. The deal includes 15 power plants totaling 2.6 GW of capacity, along with ongoing commercial operations and a development pipeline. According to Mexican officials, including President Claudia Sheinbaum, the move reflects corporate portfolio strategy rather than political tensions.

Following the acquisition, Grupo Cox announced a US$6.4 billion investment plan through 2028, nearly half directed toward water and renewable-energy projects. Founder Riquelme Vives said the purchase elevates Mexico to the company’s most strategic global market, positioning Grupo Cox as the country’s fourth-largest electricity generator. Total investment in Mexico is expected to exceed US$10 billion by 2030.

Source: mexicobusiness.news