AVANGRID announced it has finalized a deal to operate and manage the Vineyard Wind 1 offshore wind project, an 800-MW installation being built off the coast of Massachusetts.
Vineyard Wind 1 is owned in a joint venture between AVANGRID, part of the Iberdrola Group, and Copenhagen Infrastructure Partners. Construction of what would be the first U.S. commercial-scale offshore wind project is expected to be completed next year, with the installation entering commercial operation in 2024.
AVANGRID on Aug. 3 said it will be responsible for operations and management services of the project after construction is complete and Vineyard Wind 1 enters service. The project was approved by U.S. government officials in May 2021. The $2.3 billion installation achieved financial close in September of last year.
