Avangrid takes full ownership of its offshore wind JV Vineyard Wind (US)

Avangrid, an affiliate of the Spanish energy group Iberdrola, has taken full ownership of Vineyard Wind, a 50-50 JV with Copenhagen Investment Partners in the United States (US) for US$168m. Avangrid will thus be the sole shareholders in an 804 MW site in Connecticut and in an up to 1.2 GW site in Massachusetts. Those two projects, along with the 800 MW Vineyard Wind 1 project off the coast of Martha’s Vineyard in Massachusetts, could require around US$1.2bn in investments.

Earlier in September 2021, Vineyard Wind submitted two proposals in response to the Request for Proposals (RFP) for offshore wind energy projects in Massachusetts (US), offering options of approximately 800 MW and 1,200 MW. The Vineyard Wind’s proposals, named Commonwealth Wind, will be developed in an area just south of the company’s Vineyard Wind 1 and Park City Wind projects, that total 1.6 GW of planned capacity. The 800 MW Vineyard Wind 1 offshore wind project also reached financial close in September 2021.