Iberdrola-controlled developer Avangrid is open to forming partnerships for commercial development of 4.5GW of its US offshore wind portfolio as part of a broader strategy to capture the value of its growing sector investments, CEO Dennis Arriola has said.

“We’ll remain focused on prudently managing our balance sheet and credit metrics, while actively exploring alternative funding options including partnerships and asset recycling for investments that may no longer be strategic, or maybe more valuable to others in the market,” he said.