Iberdrola USA has reached an agreement with UIL Holding to merge the two companies in the United States.
UIL Holdings is a public utility holding company and the parent company for companies mainly dedicated to the regulated business of transmission and distribution of electricity and gas. The company has 317,000 electricity and 396,000 gas points of supply in Connecticut and Massachusetts and distributed 5.4 TWh of electricity and 2.1 bcm of gas in 2013.
Iberdrola USA operates 6.5 GW of power capacity and claims to be the second largest wind producer in the United States (active in 23 states). The group has about 1.8 million electricity and 0.6 million gas points of supply. The company distributed 33 TWh of electricity and supplied 41 TWh of gas in 2014.
The new company resulting from the merger will become one of the largest utilities in the US and the 2nd largest wind operator company. The transaction, subject to the relevant regulatory and stock market authorizations and UIL shareholder approval, is expected to close in 2015.
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