Vineyard Wind Statement on Amended MA Climate Legislation

(NEW BEDFORD, MA) – Vineyard Wind, a joint venture between Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR), and Copenhagen Infrastructure Partners (CIP), today issued a statement regarding the amended Massachusetts Climate Legislation.  

“The revised climate bill is just the latest example of Massachusetts continuing to be a true leader in the adoption of clean, renewable and affordable energy,” said Vineyard Wind CEO Lars T. Pedersen.  “I want to thank Speaker Mariano, Senate President Spilka as well as TUE Committee Chairs Barrett and Roy for their leadership in taking the climate bill amendments up and moving the legislation quickly to the Governor’s desk for his signature.

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 significant benefits to the Commonwealth of Massachusetts by providing clean electricity to power more than 400,000 homes, creating thousands of good paying jobs, and reducing electricity rates by $1.4 billion over the first 20 years of operation.  The project is also expected to reduce carbon dioxide emissions by 1.68 million metric tons annually, the equivalent of taking 325,000 cars off the road each year.  

Vineyard Wind is expected to reach financial close in the second half of 2021 and begin delivering clean energy to Massachusetts in 2023.

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