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Avangrid, CIP reach financial close on Vineyard 1
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US: Vineyard Wind 1 becomes the first commercial scale offshore wind farm in the US to achieve financial close
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The United States Secretary of the Interior has announced approval of the construction and operation of the Vineyard Wind project the first large-scale, offshore wind project in the United States. Vineyard Wind 1 is an 800 MW project located 15 miles off the coast of Martha s Vineyard and will be the first commercial scale offshore wind project in the United States. The project will generate electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 Full Time Equivalent (FTE) job years over the life of the project, save ratepayers $1.4 billion over the first 20 years of operation and is expected to reduce carbon emissions by more than 1.6 million tons per year.
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Offshore Milestone as Feds Back Vineyard Wind Project
The first large-scale offshore wind farm in the U.S. has received the go-ahead from the federal government, with industry insiders saying the milestone decision is likely to spur more rapid development of the nation’s offshore wind projects.
The Vineyard Wind installation, an 800-MW project that will use GE’s Haliade-X turbines, on May 11 received the Record of Decision (ROD) from the U.S. Dept. of the Interior’s Bureau of Ocean Energy Management (BOEM). The ROD is the last major step in the federal review process for Vineyard Wind, a joint venture of Avangrid Renewables, a subsidiary of AVANGRID, and Copenhagen Infrastructure Partners (CIP).
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