JP Morgan

Iberdrola is a leading global utility company engaged in the production, distribution, and retail of electricity and gas across nearly 40 countries. With a diverse portfolio of 56 gigawatts, it primarily generates electricity from nuclear, fossil-fuel, hydroelectric, and renewable energy sources, with wind power representing approximately 40% of its capacity. The company operates significant electricity and distribution networks in Spain, the UK, Brazil, and the US, where it maintains a strong presence. Iberdrola is committed to advancing the energy transition through a sustainable business model that emphasizes renewable energy, smart grids, large-scale energy storage, and digital transformation, aimed at delivering innovative products and services to its customers. In addition to its generation activities, Iberdrola is involved in gas storage and supply, reinforcing its position as a comprehensive energy provider.

El Paso Electric, established in 1901, is a regional electric utility company headquartered in El Paso, Texas. It provides electricity generation, transmission, and distribution services to approximately 394,000 retail and wholesale customers across a 10,000 square mile area in west Texas and southern New Mexico. The company generates power through nuclear fuel, natural gas, purchased power, and solar photovoltaic panels, with a net generating capacity of approximately 2,085 megawatts. It owns and operates transmission lines and distributes electricity to residential, commercial, industrial, public authority, and wholesale customers, including local military installations and universities.