Pedro Azagra Blázquez has officially assumed the role of CEO of AVANGRID Inc. He has served as a member of AVANGRID’s 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.
“I’m honored to lead AVANGRID as we continue to accelerate the transformation to a clean energy future,” states 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 serves as the chief development officer for Iberdrola S.A., where he has executed more than 100 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,” says 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 Corp. 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 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.