Record investment, more clean energy partnerships and a summer full of energy

Good morning! ?? As July draws to a close, we’re ending it on a high. Our half-year results leave no room for doubt, with record investment of €10.5 billion boosting profit, growth and employment ahead of our targets. In our Executive Chairman’s own words:

“These results confirm our ability to execute our plans ahead of schedule, even in the current challenging macroeconomic environment.

“And, by the end of the year, we expect high-single-digit growth in net profit, excluding additional capital gains from asset turnover.”

Congratulations to everyone across the group on a fantastic achievement! ??

In recent days we have also finalised an important agreement with Masdar to help achieve ambitious offshore wind objectives in Europe ??

As the UAE’s flagship renewables firm, Masdar will invest in a minority stake of Iberdrola’s Baltic Eagle offshore windfarm in Germany. The agreement, which values the project at €1.6 billion, allows us to continue exploring more opportunities for clean energy investment in different territories – an important milestone in our efforts to lead the global energy transition.?

Renewables around the World: La?bella?Italia ????

For today’s instalment of 'Renewables Around the World', we head to Italy for the launch of our first solar plant in the country. Montalto di Castro is located in the Lazio region and is already in operation.

We remain committed to driving decarbonisation and energy independence across the world, as the plant provides enough clean energy to power 12,000 households per year – roughly the equivalent of abating 9,600 tons of CO2 emissions. Our team also discovered a host archaeological artefacts while excavating the site, which have been transferred to the National Archaeological Museum of Vulci.

Leaders in United States

Avangrid has reached an installed capacity of 8.6 GW across the US. Our subsidiary has a huge portfolio of 75 operational wind and solar assets spread across 24 states, accelerating the #EnergyTransition?in the United States with:

1. Over 70 renewable power plants
2. 8.6 GW in wind and solar capacity, capable of powering 2.8 million homes
3. A clear commitment to the energy technologies of the future

"Our capacity milestone is a significant achievement for Avangrid, as it demonstrates our unwavering dedication to accelerating the energy transition in the US,” said Avangrid’s chief executive, Pedro Azagra.

And that’s it from us. This week, to say goodbye, we leave you with a beautiful sunset from a windfarm in our Los Calangos complex in Brazil.

See you soon! ????????????