Iberdrola Invests $10 Billion in Massachusetts Wind Power - Smart Energy Decisions

Wind  -  February 18, 2022

Massachusetts Receives $10 Billion Investment in Offshore Wind

Massachusetts will receive $10 billion in investments of wind power from the construction of three offshore wind complexes that will meet 35% of the state's electricity demand with clean energy.

The projects are being developed by Iberdrola for a total of 2,800 MW of offshore wind and also an interconnection line with a capacity of 1,200 MW to transport hydroelectric power from Canada. 

Construction recently began on Vineyard Wind One, an offshore wind farm. The 800 MW project, located about 15 miles off the coast of Martha's Vineyard, will generate enough wind power to meet the demand of more than 400,000 homes and prevent the emission of more than 1.6 million tons of carbon dioxide per year.

Avangrid was also awarded a contract for the Commonwealth Wind offshore wind farm in Massachusetts in December. The 1,232 MW project, New England's largest offshore wind project to date, will involve a $4 billion investment. As part of the project, Iberdrola is promoting the installation of a submarine cable factory on the site of a former coal-fired power plant.

Another project that is under development in the same area is Park City Wind, an 804 MW project that will supply clean energy to customers in Connecticut while revitalizing the Port of Bridgeport. The project is expected to be completed in 2027.

The company also owns the Kitty Hawk development area (2,500 MW) in the waters off North Carolina and Virginia and has begun the permitting process with the Bureau of Ocean Energy Management (BOEM) for the Kitty Hawk North wind farm (800 MW), the first project planned in this area.

"Our projects in Massachusetts will be fundamental to achieving the U.S. goal of reaching 30,000 MW of wind energy by 2030, and with them we will generate industrial development and employment," said Iberdrola's Chairman Ignacio Galán in a statement.

Tags: Iberdrola

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