Qatar pumps $740 million into US renewable energy firm Avangrid

Doha News, May 19, 2021

Qatar topped the Middle East and North Africa in the World Economic Forum’s [WEF] latest Fostering Effective Energy Transition 2021 report, an indicator of the Gulf state’s readiness to transition to sustainable energy systems.

Qatar Investment Authority has bought some $740 million in shares at renewable energy provider Avangrid, acquiring up to 3.7% of its common stock.

The deal comes as Avangrid announced plans to sell shares worth $4,000 million to both the Qatar Investment Authority [QIA] and Spanish Iberdrola Group, for $51.40 million each.

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