Global green power giant Iberdrola and its US utility arm Avangrid have lodged an appeal against a ruling by state regulators that threatens to squash a planned $8.3bn flagship acquisition designed to create America’s third-largest renewable energy operator.
Avangrid’s agreed purchase of utility PNM Resources hit the rocks in December when commissioners on the New Mexico Public Regulation Commission (NMPRC) voted 5-0 against approval of the deal.
