Avangrid, CIP complete restructuring of 800 MW Vineyard offshore wind project in Massachusetts

Iberdrola has concluded the restructuring of a joint venture agreement with Copenhagen Infrastructure Partners (CIP) to retain 50% interest in the 800 MW Vineyard Wind 1 project in Massachusetts, and the right to take control of the project during the operational phase.

The Vineyard Wind 1 project will be the first commercial-scale offshore wind farm operating in the USA, following the start of construction in the fourth quarter of 2021. The project consists of 84 units MHI's V164 9.5 MW offshore wind turbines and 62 Haliade-X 13 MW machines. Once operation, the wind farm will generate enough power per year to meet the consumption of more than 400,000 homes and businesses. 

The restructuring of a joint venture agreement with CIP means Iberdrola’s Avangrid Renewables takes full ownership of Commonwealth Wind, which was selected in December as part of Massachusetts’ third offshore wind competitive procurement process. The 1,232-megawatt (MW) project, New England’s largest offshore wind project to date, will create 11,000 full-time equivalent jobs over the project’s lifetime and generate enough energy to power 750,000 homes annually.