America’s energy grid isn’t just a domestic operation. Behind the wires and substations lies a tangle of international investment, with foreign-owned companies holding stakes in U.S. power plants, utilities, and grid technology.
These partnerships can bring capital and innovation — but they also raise national security questions, especially when state-controlled entities are involved.
Here’s a breakdown of who owns what, where the power flows, and why Washington’s watching.
Astoria Energy Complex (Queens, NY)
A key example of foreign ownership, this natural gas facility supplies up to 15% of NYC’s electricity. It’s majority-owned by a European-Israeli consortium that includes Germany’s MEAG (Munich Re), Dutch pension fund APG, and Israel’s Clal Insurance. The investment structure blends global finance with critical American infrastructure.
National Grid USA (Northeast)
A household name in New York and Massachusetts, National Grid USA is a wholly owned subsidiary of National Grid plc, a British utility giant. It operates electricity and gas systems for millions, making it one of the most prominent examples of long-term foreign control over U.S. utility service.
Canadian Renewable Investments
Companies like Brookfield Renewable and Algonquin Power & Utilities own or operate dozens of wind and solar projects across the Midwest and Texas. These Canadian firms are major players in America’s clean energy build out, often acquiring local developers and embedding themselves in state grids.
KEPCO’s Quiet U.S. Stakes
Korea Electric Power Corporation (KEPCO) has made select U.S. inroads — mainly through tech partnerships and smart-grid research. Though less visible than others, its participation in DOE-funded pilot projects shows how foreign entities are shaping the grid’s next generation.
Power Assets Holdings (Hong Kong)
Backed by billionaire Li Ka-shing, this company has previously held stakes in Hawaiian Electric and other U.S. utility investments. Though not currently dominant, it reflects the Asia-Pacific interest in long-term U.S. infrastructure income streams.
State Grid’s Tech Ambitions
China’s State Grid Corporation doesn’t own U.S. plants outright — but it has exported smart-grid tech and formed R&D partnerships on high-voltage transmission. Their global footprint and state backing keep U.S. officials wary, particularly amid growing geopolitical tensions.
Iberdrola’s Avangrid (Spain)
Spanish utility Iberdrola owns Avangrid, which operates electric and gas utilities in New England and the Pacific Northwest. Avangrid also runs renewables operations across more than 20 states, with foreign direction shaping corporate decisions and long-term strategy.
Foreign Finance in Private Equity
Many foreign pension funds and investment arms — especially from Canada, Norway, and the Netherlands — hold passive stakes in U.S. generation and transmission projects through infrastructure funds. These back-office arrangements rarely make headlines but account for billions in assets.
The U.S. Grid Doesn’t Just Involve the U.S.
The U.S. grid is increasingly international, from boardrooms to substations. While foreign investment brings needed modernization money, it also forces a delicate balance between globalization and energy sovereignty. With the power grid now a battlefield of both economics and geopolitics, every foreign stake deserves a closer look.
