AVANGRID, the third-largest wind operator in the United States, has acquired PNM Resources in an $8.3 billion merger deal.
The merger will create one of biggest clean energy companies in the United States with 10 regulated utilities in six states and the third-largest renewables company, with operations in 24 states.
“Our combined companies provide greater opportunities to invest in the infrastructure and new technologies that will help us navigate our transition to clean energy while maintaining our commitments to our local teams and communities,” said Patricia Vincent-Collawn, PNM chairman, president and CEO.
As a result of the deal, PNM shareholders will receive approximately $4.3 billion in cash.
