Iberdrola announced a $8.3 billion deal including debt to add energy company PNM Resources to its North American Avangrid arm. With a combined market value topping $20 billion, the merged company is poised to become one of the largest utilities and the third-largest renewable energy operator in the United States, with operations in 24 states. PNM has been pushing to retire its coal plants, and the deal spotlights the growing appeal of solar and wind now that they are cheaper than gas. Iberdrola has pledged to spend €10 billion this year to expand its global reach of renewables and power grids; it also aims to expand its renewable capacity in the US by 50 percent over four years. (ReutersFinancial TimesBloombergAlbuquerque Journal)