Iberdrola, a Spanish multinational electric utility company, continues to expand its operations and influence in the energy sector. The company has recently made two significant acquisitions and received recognition for its commitment to diversity.
First, Iberdrola has acquired the remaining 80% stake in Balantia, a company specializing in energy efficiency and decarbonization [4b5c2ec8]. This acquisition will enable Iberdrola to accelerate the decarbonization of companies by launching the Net Zero Emissions Manager (NZE Manager) platform. The platform aims to reach a customer base of more than 20,000 companies this year and will help them manage energy and CO2 emissions, design personalized decarbonization plans, and achieve emission reductions and associated economic savings. Balantia's technological capabilities have already been utilized by Iberdrola in over 180,000 homes and companies. The acquisition of Balantia aligns with Iberdrola's growth strategy through decarbonization.
In addition to the acquisition of Balantia, Iberdrola has also reached an agreement to acquire the remaining 18.4% stake in its US subsidiary, Avangrid, for $2,551 million [55667f9f]. This acquisition will increase Iberdrola's exposure to the network business in the United States. Avangrid, headquartered in Connecticut, has $44 billion of assets and operations in 24 US states. The transaction is subject to approval from shareholders and regulators.
Furthermore, Iberdrola's subsidiary, Avangrid, has been named to Forbes' "America's Best Employers for Diversity 2024" list for its commitment to diversity, equity, and inclusion [5cc71edb].
These recent developments highlight Iberdrola's dedication to expanding its presence in the energy sector, promoting decarbonization, and fostering diversity within its operations.
Corporate heavyweights Imerys, Edenred, Voltalia, and TotalEnergies have also made strategic investments in their respective industries. Imerys, a specialty mineral products company, reported a rise in EBITDA to 384 million euros in the first half of the year, reinforcing its position in the market [5907d6bc]. Edenred, a provider of prepaid corporate services, secured a 500 million euros bond with a 3.625% coupon, ensuring capital for growth initiatives [5907d6bc]. Voltalia, a renewable energy company, obtained a 294 million euros syndicated banking loan to support its ventures in renewable energy [5907d6bc]. TotalEnergies, an energy company, diversified its renewable energy portfolio by acquiring hydropower projects in Africa [5907d6bc]. These investments reflect the broader trends in global finance and energy markets, with companies focusing on sustainability and growth.
Overall, these developments demonstrate the ongoing efforts of companies like Iberdrola, Imerys, Edenred, Voltalia, and TotalEnergies to expand their operations, promote sustainability, and achieve their strategic goals.