New England Wind approved
The project would consist of New England Wind 1 and New England Wind 2.
Image for illustration purposes.
USA, Connecticut: Iberdrola, through its US subsidiary Avangrid, has received ROD clearance from the Biden Administration for its New England offshore wind farm. The Federal Record of Decision (ROD) together with the Construction and Operations Plan Approval (COP), which is expected in 2024, are a milestone in the permitting for the construction of the future farm.
On February 26, 2024, the project received a Final Environmental Impact Statement (FEIS). The issuance of the ROD comes after years of intensive engagement with members of the local communities and other stakeholders. COP approval is expected in July 2024.
The New England Wind project, consisting of New England Wind 1 and New England Wind 2, could create thousands of jobs and provide 2 GW of clean energy, enough to power one million homes and businesses in the region, thus reducing nearly 4 million tons of CO2. It could create 9200 full-time skilled jobs and bring $8 billion in direct investment to the region.
It also offers opportunities for economic growth and industrial attraction in the area, such as an assembly centre, an offshore wind training centre, a new offshore crane factory, operations and maintenance facilities in Bridgeport, Connecticut and New Bedford, among others.
New England Wind 1 is exceptionally advanced for commissioning and offers extraordinary security and viability. In fact, it is the most advanced and ready offshore wind opportunity in the Northeast region. The project will be located about 50 kilometres south of Barnstable, Massachusetts, could begin construction in 2025, and be in commercial operation before the end of the decade.
The US is Iberdrola’s main investment focus within its 2024-2026 strategic plan, to which it will allocate €41,000 million. Specifically, it will receive 35% of the investment, around €14,350 million, with electricity grids being the main segment of investments.
Source: Iberdrola
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