(NEW BEDFORD, MA) – Vineyard Wind, a joint venture between AVANGRID, Inc. (NYSE: AGR), and Copenhagen Infrastructure Partners (CIP), recently submitted its first annual report to the Massachusetts Department of Energy Resources (DOER) entitled, “Vineyard Wind 1 Impact on Jobs and Economic Output.”
Compiled by UMass Dartmouth and Springline Research Group, the analysis utilizes job and expenditure data collected from 2017 through September 2022 to measure Vineyard Wind’s progress, particularly in terms of the extent to which the reported results align with the job and economic output estimates conducted by UMass Dartmouth’s Public Policy Center in 2017 (PPC17).
The report found that Vineyard Wind’s reported numbers double the initial projections in both jobs created and economic output, a fact attributed partly to a longer than expected development period and changes to the overall project parameters.
“We’re pleased to submit this first annual report and proud of the progress we’re making not only for our project, but for the growth of this new industry,” said Vineyard Wind CEO Klaus S. Moeller. “For years, we’ve talked about the tremendous potential for positive job growth and economic impact that the offshore wind industry will have in Massachusetts. This report is proof that we are turning that potential into reality.”
The report also points out that “more than three-quarters (75.8%) of Vineyard Wind employees and 65.2% of Grade 1 contractors are Massachusetts residents. Among Vineyard Wind’s Massachusetts-based employees, 38.0% are residents of Southeastern Massachusetts.”
UMass Dartmouth is excited about our latest collaboration with Vineyard Wind on this study that showcases the promise of offshore wind in the SouthCoast region and our Commonwealth,” said UMass Dartmouth Chancellor Mark A. Fuller. “Offshore wind offers incredible learning and research opportunities as we aid the industry, as well as workforce development advantages to our community.”
On the construction phase that began last year, the reports states that “a total of 199 workers have been employed in 2022 thus far (January 2022 through September 2022), with 105 of those workers being union employees,” fulfilling a key competent of the Project Labor Agreement (PLA) that was signed in July of 2021
“Offshore wind represents a once-in-a-generation opportunity to create a new industry in Massachusetts built by a skilled and unionized labor,” said Sy Oytan, AVANGRID Senior Vice President for Offshore Wind Projects. “AVANGRID is proud that our joint venture, first-in-the-nation Vineyard Wind 1 project is delivering on this vision and already exceeding its immense potential for job creation and economic impact. We look forward to building on these strong benchmarks as the staging and assembly work for this historic project begins in New Bedford, where Massachusetts workers will chart a new course for clean energy in the United States.”
The report was submitted to DOER in accordance with an agreement that was signed between the agency and Vineyard Wind after the project was selected by the state in the first round of offshore wind procurement in 2017.
“CIP firmly believes in being a strong local partner. It is essential to our collective success in developing large scale renewable energy projects,” said Tim Evans, Partner and Head of North America at CIP. “These job numbers prove that when you invest in communities, you create immediate opportunities for families that boost local economies while also training a talent pool that will deliver future projects in the years ahead.”
Vineyard Wind, an 800-megawatt project located 15 miles off the coast of Martha’s Vineyard, will generate electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 Full Time Equivalent (FTE) job years, save customers $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, the equivalent of taking 325,000 cars off the road annually.
Vineyard Wind will begin delivering clean energy to Massachusetts in 2023.
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About Vineyard Wind
Vineyard Wind LLC is an offshore wind development company that is building the first commercial-scale offshore wind energy project in the U.S., to be located 15 miles south of Martha’s Vineyard. Vineyard Wind 1, based in New Bedford, Massachusetts, is 50 percent owned by funds of Copenhagen Infrastructure Partners (CIP) and 50 percent by Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR). For more information, visit www.vineyardwind.com.
Contact: Press@vineyardwind.com
