Iberdrola has formally concluded an agreement to take control of over 2,000MW of US offshore wind capacity.
The restructuring of a joint venture agreement with Copenhagen Infrastructure Partners (CIP) means Iberdrola’s Avangrid Renewables takes full ownership of Commonwealth Wind (1,232MW), which was selected in December as part of Massachusetts’ third offshore wind competitive procurement process. The company also has sole ownership of Park City Wind, an advanced 804 MW project in Connecticut with a PPA secured and BOEM permitting underway. Additionally, Iberdrola also retains 50% of the 800 MW Vineyard Wind 1 project in Massachusetts, and the right to take control of the project during the operational phase.
