Iberdrola has managed to complete in the United States the long bureaucratic process of granting permits for the installation of its first offshore wind farm in jurisdictional waters of this country. The Vineyard Wind 1 project, which involves an investment of 2,500 million to generate 800 MW, has obtained final federal approval to start its works.
Official endorsement has come from the Bureau of Ocean Energy Management (Boem). Federal support transferred to Avangrid, Iberdrola’s subsidiary in the United States. With this administrative seal, the multinational company chaired by Ignacio Galán will be able to begin this year the construction tasks of the renewable complex off the coast of the State of New England.
With Joe Biden in the presidency, the North American country has turned its energy policy around and has opted for renewables, which were not the priority of his predecessor, Donald Trump.
To obtain the operating permits for Vineyard, Avangrid has deployed a broad campaign to disseminate the benefits of renewable generation, “with 33,000 comments and hundreds of hours of public hearings,” according to Dennis V. Arriola, CEO of the US subsidiary. of Iberdrola.
Vineyard will install its turbines 15 miles off the coast of Martha’s Vineyard. Its power generation will cover the annual consumption of 400,000 homes. The works will generate 3,600 jobs. The renewable complex will cut electricity rates in the area by 1.4 billion dollars (more than 1.1 billion euros at the current exchange rate) during its first 20 years of operation. It will also reduce carbon emissions per year by 1.6 million tons.
In the long term, Iberdrola develops projects off shore in the United States with a capacity of 6,800 MW. In this area, the Spanish multinational has 1,300 MW installed in waters of the United Kingdom and Germany.