Iberdrola to Invest USD 10 + Billion in Wind Projects Offshore Massachusetts
Iberdrola will invest more than USD 10 billion in the development of three offshore wind complexes in Massachusetts, the Spanish energy company’s CEO, Ignacio Galán, told the Governor of Massachusetts, Charlie Baker.
During the meeting, Galán also explained the company’s growth plan in the United States for the period 2020-2025, which will enable it to double its renewable generation capacity and boost the country’s decarbonisation.
“Our projects in Massachusetts will be fundamental to achieving the US goal of reaching 30,000 MW of wind energy by 2030, and with them we will generate industrial development and employment,” said Galán.
Iberdrola is developing 2,800 MW of offshore wind capacity in three different projects and is developing an interconnection line with a capacity of 1,200 MW to transport hydroelectric power from Canada.
Together, Iberdrola’s projects will meet 35 per cent of the state’s electricity demand with clean and competitive energy, while helping to create around 4,000 jobs during construction over the next few years, the company said.
Construction recently began on Vineyard Wind One, the country’s first large offshore wind farm. The 800 MW project, located about 15 miles south off the coast of Martha’s Vineyard, will generate enough wind power to meet the demand of more than 400,000 homes.
In addition, its commissioning will also prevent the emission of more than 1.6 million tonnes of carbon dioxide per year, the equivalent of taking 325,000 vehicles off the road, Iberdrola said.
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 USD 4 billion investment and create 11,000 jobs.
As part of the project, Iberdrola is promoting the installation of a submarine cable factory in the state on the site of a former coal-fired power plant.
Also under development in the same area is Park City Wind, an 804 MW project that will supply clean energy to customers in Connecticut, while revitalising the Port of Bridgeport, home to the operation and maintenance office and warehouse for the components for construction. The project is expected to be completed in 2027.
The company also owns the 2.5 GW Kitty Hawk development area in the waters off North Carolina and Virginia and has begun the permitting process with the Bureau of Ocean Energy Management (BOEM) for the 800 MW Kitty Hawk North wind farm, the first project planned in this area.
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