Iberdrola has formally concluded an agreement with joint venture partner Copenhagen Infrastructure Partners (CIP) to take control of over 2GW US offshore wind capacity.
The restructuring of the JV with means Iberdrola’s Avangrid Renewables takes full ownership of the 1232MW Commonwealth Wind development, which was selected in December as part of Massachusetts’ third offshore wind competitive procurement process.
Avangrid Renewables also has sole ownership of the 804MW Park City Wind project in Connecticut with a power purchase agreement secured and federal permitting underway.
Iberdrola also retains 50% of the 800MW Vineyard Wind 1 facility in Massachusetts, and the right to take control of the project during the operational phase.
This will be the first commercial-scale offshore wind farm operating in the US, following the start of construction in the fourth quarter of last year.
The changes mean Iberdrola now has a US offshore wind pipeline of 4.9GW.