Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe

Avangrid Renewables restructures offshore wind plan with European development partner

By WPED Staff | September 21, 2021

Avangrid Renewables and Copenhagen Infrastructure Partners (CIP) plan to restructure their offshore wind development joint venture, Vineyard Wind.

The Vineyard wind portfolio includes the first commercial-scale offshore wind project in U.S. waters, Vineyard Wind 1, an 800-megawatt (MW) project that will deliver clean energy to Massachusetts beginning in 2023. The project was financed last week and is beginning construction this month.

Vineyard Wind 1 will continue development as a 50-50 joint venture between the partners and Avangrid Renewables will have an option to gain operational control once the project reaches commercial operation. Avangrid Renewables will take full ownership of lease area OCS-A 0534 which includes Park City Wind, an 804-MW project which will deliver clean energy to Connecticut and Commonwealth Wind, which last week submitted a bid for up to 1,200 MW to the third Massachusetts offshore wind competitive solicitation.

CIP will take full ownership of lease area OCS-A 0522, the easternmost offshore wind area, which has the potential to deliver over 2,500 MW of clean energy into New England and New York.

“Along with Avangrid Renewables, we have during the previous week achieved the most important milestone for offshore wind in the U.S., and with our partner are excited to lead Vineyard Wind 1 through the construction phase and complete this trailblazing project,” said Christian T. Skakkebæk, senior partner in CIP. “Lease area 522 has the highest wind speed of any lease area in the northeast and will be a very competitive site for solicitations from New York to Massachusetts.”

The transaction requires approvals from stakeholders and regulators, which include the Bureau of Ocean Energy Management as well as Connecticut electric distribution companies. The transaction is expected to close in approximately six months during which the parties have agreed on a transition plan.

“We are proud of the extraordinary accomplishments achieved in partnership with CIP, including the first commercial-scale offshore wind farm in the United States,” said Dennis V. Arriola, CEO of AVANGRID. “We look forward to continuing our partnership with CIP for Vineyard Wind 1 as well as leading Park City Wind and Commonwealth Wind to deliver economic opportunity and clean energy to New England. This restructuring is aligned with our long-term growth strategy and our aspiration to be the leading sustainable energy company in the U.S.”

News item from AVANGRID


Filed Under: News, Offshore wind, Projects
Tagged With: avangridrenewables, vineyardwind
 

About The Author

WPED Staff

Related Articles Read More >

Equinor launches ECO Liberty service operations vessel for Empire Wind offshore project
Triton Anchor receives U.S. patents for offshore anchor
US government allows Empire Wind offshore project to resume construction
Richardson Electronics to deliver pitch energy modules to TransAlta wind fleets

Podcasts

Wind Spotlight: Looking back at a year of Thrive with ZF Wind Power
See More >

Windpower Engineering & Development Digital Edition Archive

Digital Edition

Explore the full archive of digital issues of Windpower Engineering & Development, presented in a high-quality, user-friendly format. Access current and past editions, clip, share, and download valuable content from the industry’s leading wind power engineering resource.

Windpower Engineering & Development
  • Wind Articles
  • Solar Power World
  • Subscribe to Windpower Engineering
  • About Us/Contact Us

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising

Search Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe