WASHINGTON, D.C. – The Bureau of Ocean Energy Management (BOEM) has completed the environmental analysis of the proposed Vineyard Wind I offshore wind project.
Vineyard Wind, a joint venture between Avangrid Renewables and Copenhagen Infrastructure Partners, has proposed an 800-MW wind energy project located 15 mi (24 km) offshore Martha’s Vineyard. It is expected to power more than 400,000 homes, reduce electricity rates by $1.4 billion over the first 20 years of operation, and reduce carbon dioxide emissions by 1.68 million metric tons annually.
If approved, Vineyard Wind 1 will be the first commercial scale offshore wind project in the US.
Vineyard Wind is expected to reach financial close in the second half of 2021 and begin delivering electricity to Massachusetts in 2023.
National Ocean Industries Association President Erik Milito said: “The progress made in the Vineyard Wind permitting process is critical for the project developers and for the offshore wind industry as a whole. A timely and effective permitting regime is a necessity in developing the generational energy and economic opportunity of offshore wind. With Interior’s announcement, we are closer to that reality.
“Wind developers also need the certainty that comes with a clear timeline of future opportunities. It has been more than two years since the last offshore wind lease sale. Wood Mackenzie determined that new, near-term lease opportunities could support 80,000 jobs annually and generate $166 billion in new investment by 2035, but the Bureau of Ocean Energy Management must first open the door to new leasing.”