PUBLISHED May 9, 2017
New partner for Vineyard Wind Project
Vineyard Wind: CIP partners with the world’s leading renewables developer. COP to lead the development of the project.
Copenhagen Infrastructure Partners (CIP) has on May 9, 2017 announced a partnership with Avangrid Renewables concerning the further development of Vineyard Wind. Avangrid is a major US energy company and is 81.5% owned by Iberdrola S.A. who is one of the world’s leading energy companies and operators of renewable energy assets.
Vineyard Wind is a company holding a 166,886 acre (675 square km) offshore wind energy lease issued by the US Bureau of Ocean Energy Management and located south of Massachusetts, capable of holding approximately 3,000MW offshore wind projects in total. Vineyard Wind is eligible to participate in the utility tender program established by recently enacted legislation in Massachusetts, which calls for a total of 1600 MW of new offshore wind capacity until 2027.
COP has since August 2016 been engaged by Copenhagen Infrastructure Partners (CIP) through the funds Copenhagen Infrastructure II K/S (CI II) and Copenhagen Infrastructure III K/S (CI III) to lead the development of the Vineyard Wind project off the coast of Massachusetts on their behalf.
The newly formed project team where both Scottish Power (wholly owned subsidiary of Iberdrola) and Avangrid will second experienced resources into the team, will continue to be led by COP co-CEO Lars Thaaning Pedersen, who will relocate to Massachusetts in the coming months to further strengthen COPs presence in North America.