Press release
Avangrid’s New England Wind 1 Project Selected by Massachusetts In Offshore Wind Solicitation
New England Wind 1 to Provide 791 Megawatts of Clean, Reliable Offshore Wind Power to Massachusetts by 2029, Advancing Critical State Climate Targets
Boston, MA –Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced it has been awarded 791 Megawatts (MW) by the Commonwealth of Massachusetts in the multi-state regional offshore wind solicitation. New England Wind 1 is an offshore wind development located in federal lease area OCS-A-0534, roughly 30 miles south of Barnstable, Massachusetts and making landfall under the Craigville Beach parking lot in Barnstable.
“We are grateful to Governor Healey, Lt. Governor Driscoll, and the leadership of the entire administration in advancing energy reliability and climate goals at this historic moment,” said Avangrid CEO Pedro Azagra. “New England Wind 1 is positioned to deliver an urgent energy, climate, and economic solution to Massachusetts, and we look forward to working with the Commonwealth, Tribal Nations, organized labor, and our community partners moving forward.”
New England Wind 1 will produce enough electricity to power approximately 400,000 homes and will reduce greenhouse gas emissions equivalent to taking 300,000 gasoline-based cars off the road annually. The project will create more than 4,400 full-time equivalent jobs and bring $3 billion of local investment, including a new world class marshalling port in Salem, MA and a new offshore wind manufacturing facility in New Bedford, MA. If a power purchase agreement is signed and approved, then the project can begin construction in 2025, with a majority of investment taking place between 2027-2029, and reach full commercial operation in 2029.
The project will border VW1, the nation’s first large-scale offshore wind project currently under construction 15 miles south of Martha’s Vineyard. The project will generate electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 Full Time Equivalent job years, save customers $1.4 billion over the first 20 years of operation. As part of the Iberdrola group, VW1 will join the global network of offshore wind projects in France, Germany and the United Kingdom. Iberdrola currently operates approximately 2.3 GW of offshore wind capacity globally and is on-target to have nearly 5 GW installed by 2026. Earlier this week, Iberdrola secured a contract for their proposed East Anglia Two offshore wind farm project in the UK, which has a total capacity of 963 MW.
Avangrid’s renewable portfolio includes more than 75 projects spread across 22 states. It has over 9 Gigawatts of installed wind and solar capacity.
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About Avangrid: Avangrid, Inc. is a leading U.S. energy company investing in grid infrastructure and power generation projects to deliver reliable energy and meet growing electricity demand. With approximately $50 billion in assets and operations across 25 states, Avangrid is helping modernize the U.S. electric grid, improve system resiliency, and support economic growth for the customers and communities it serves.
Avangrid owns and operates seven electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. Avangrid also has nearly 100 energy generation facilities across the United States and more than 11 gigawatts of installed capacity. Avangrid has more than 8,300 employees and was named among the World's Most Ethical Companies in 2026 for the eighth consecutive year by the Ethisphere Institute. Avangrid is a member of the Iberdrola Group.
About Iberdrola: With a market capitalization of more than €140 billion, Iberdrola is the largest electricity company in Europe and one of the two largest in the world. The Group serves more than 100 million people around the world and has a workforce of 45,400 employees and assets of €165 billion. In 2025, Iberdrola posted a record net profit of €6.3 billion. The company contributes close to €10.4 billion in taxes in the countries where it operates and supports more than 500,000 jobs throughout its supply chain, thanks to €13.2 billion in purchases from tens of thousands of suppliers.
Since 2001, Iberdrola has invested more than €175 billion in electricity networks, renewable energy and energy storage to help create an energy model based on electrification. The company has close to 1.4 million km of electricity networks in the United States (the states of New York, Connecticut, Maine and Massachusetts), the United Kingdom (Scotland, England and Wales), Brazil (the states of Bahia, Rio Grande do Norte, Pernambuco, São Paulo and Mato Grosso do Sul, as well as Brasilia) and Spain, as well as 57,000 MW of capacity worldwide, of which more than 46,000 MW is renewable.
