AVANGRID Offshore Wind JV Vineyard Wind 1 Achieves Key Regulatory Milestone

AVANGRID, Inc. confirmed today that the U.S. Bureau of Ocean Energy Management (BOEM) has issued the Final Environmental Impact Statement (FEIS) for Vineyard Wind 1. The issuance of the FEIS is the final step before a Record of Decision (ROD) from BOEM, the last approval required for construction on the project to begin. The project is under development by Vineyard Wind, a joint venture between Avangrid Renewables, a subsidiary of AVANGRID, Inc., and Copenhagen Infrastructure Partners (CIP).

“We are one step closer toward realizing this historic clean energy project and delivering cost-effective clean energy, thousands of jobs and more than a billion dollars in economic benefits to Massachusetts,” said Dennis V. Arriola, CEO of AVANGRID. “BOEM’s thorough review of Vineyard Wind 1 ensures that both the project and the offshore wind industry are well-positioned for long-term success.”

The FEIS is a comprehensive study conducted by BOEM to evaluate the potential environmental impacts of the proposed project and informs BOEM’s Record of Decision, which will be issued after a 30 day period which begins today. With the issuance of the FEIS, Vineyard Wind confirmed that the project remains on track to reach financial close in the second half of 2021 and begin delivering clean energy to Massachusetts in 2023.

Located 15 miles off the coast of Martha’s Vineyard, Vineyard Wind 1 is slated to become the first large-scale offshore wind farm in the United States. With a generating capacity of 800 megawatts (MW), the project will provide enough electricity to power more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 Full Time Equivalent (FTE) job years, reduce electricity rates by $1.4 billion over the first 20 years of operation, and is expected to reduce carbon emissions by more than 1.6 million metric tons per year.

Avangrid Renewables, a leading developer of onshore wind and solar, is also pioneering the development of offshore wind in the U.S. In addition to Vineyard Wind 1, Avangrid Renewables is a partner on Park City Wind, an 800 MW project to serve the state of Connecticut, as well as on additional lease areas off the coast of Massachusetts and Rhode Island to deliver up to 3,500 MW. Avangrid Renewables also is developing Kitty Hawk Offshore Wind that has the potential to deliver 2,500 MW of clean energy into Virginia and North Carolina.

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