30 May '17, 4am

Avangrid, Vineyard Wind partner on #offshorewind proj - @NAWindpower

Avangrid, Vineyard Wind partner on #offshorewind proj - @NAWindpower

Avangrid Renewables and Vineyard Wind have formed a strategic partnership to jointly develop a large-scale offshore wind project, located off the coast of Massachusetts. Avangrid is acquiring a 50% ownership interest in Vineyard Wind, an offshore wind energy developer that is part of the Copenhagen Infrastructure Partners (CIP) portfolio. Avangrid is a subsidiary of AVANGRID Inc. Iberdrola S.A., a worldwide leader in the energy industry with significant offshore wind holdings in Europe, and owns 81.5% of the outstanding shares of AVANGRID common stock. Last summer, Massachusetts required utilities to procure 1,600 MW of offshore wind energy within the next decade, setting off an intense competition among offshore wind developers in the region. Three companies to date have acquired lease rights to build projects off the coast, including Vineyard Wind. Vineyard Wind’s projec...

Full article: http://nawindpower.com/avangrid-vineyard-wind-partner-off...

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