Iberdrola reorganizes U.S. operations into single holding company
Iberdrola S.A. announced it has received the necessary approvals to reorganize all its U.S. companies under a single holding company known as Iberdrola USA, Inc. The move will align the company’s U.S. operations with its corporate practice of establishing a single, national holding company in the principal countries where it operates.
Iberdrola USA will be composed of three intermediate holding companies that will operate separately under different boards of directors, with Iberdrola USA Networks focusing on regulated business, Iberdrola Renewables focusing on renewables generation and Iberdrola Energy Holdings focusing on natural gas storage and energy services.
The Iberdrola USA companies employ around 5,000 people with operations in 25 states. The management of the existing operating companies will remain in place and report to their respective intermediate holding companies and boards of directors.