Press Releases
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: Avangrid, Inc. is a leading energy company in the United States working to meet the growing demand for energy for homes and businesses across the nation through service, innovation, and continued investments by expanding grid infrastructure and energy generation projects. Avangrid has corporate offices in Connecticut, New York, Massachusetts, Maine, and Oregon, and operations across 25 states with approximately $50 billion in assets. Avangrid owns and operates seven electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. It also owns and operates nearly 100 energy generation facilities across the United States with a capacity of more than 11 Gigawatts, enough to power over 3 million homes. Avangrid employs approximately 8,500 people 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. 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.
