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02/04/2021

BOEM to Continue Federal Permitting Process for Vineyard Wind Project

BOEM to Continue Federal Permitting Process for Vineyard Wind Project

800-megawatt offshore wind project will be first commercial-scale offshore wind project in US waters

Orange, Conn. – February 4, 2021 – Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR), today released a statement following the Bureau of Ocean Energy Management’s (BOEM) announcement that the agency intends to resume the review process for Vineyard Wind 1 which is a project of Vineyard Wind, a joint venture between Avangrid Renewables and Copenhagen Infrastructure Partners (CIP).  

“BOEM’s announcement to resume review of Vineyard Wind 1 marks the final stretch to the successful approval of the project,” said Alejandro de Hoz, president and CEO of Avangrid Renewables. “With Vineyard Wind 1, we will continue to pioneer offshore wind in the U.S., creating thousands of jobs and ultimately delivering clean electricity to customers in Massachusetts.”

Vineyard Wind still expects to reach financial close in the second half of 2021 and to begin delivering clean energy in 2023. 

Vineyard Wind 1 is an 800-megawatt (MW) project located 15 miles off the coast of Martha’s Vineyard and is slated to become the first large-scale offshore wind farm in the United States. The project will generate cost-competitive electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 Full Time Equivalent (FTE) job years and is expected to reduce carbon emissions by more than 1.6 million tons per year. 

About Avangrid

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

 

About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.

With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.

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