Avangrid Renewables and CIP complete restructuring of U.S. projects

Avangrid Renewables, a subsidiary of AVANGRID, Inc., and  Copenhagen Infrastructure Partners have completed the previously announced restructuring of their offshore wind portfolio.

Vineyard Wind 1 will continue to be developed as a 50/50 joint venture between the partners and Avangrid Renewables. It was revealed previously that Avangrid Renewables will have an option to gain operational control once the project reaches commercial operation. The project began onshore construction last year and when completed will deliver 800 MW to Massachusetts customers.

Copenhagen Infrastructure Partners has taken full ownership of lease area OCS-A 0522, the easternmost offshore wind area, which it claims has the potential to deliver over 2,500 MW of energy into New England and New York.

In total, Avangrid Renewables now has a projected offshore wind pipeline of 4.9 GW on the East Coast of the United States. It owns 100% of the Park City Wind (804 MW to Connecticut) and Commonwealth Wind (1,232 MW to Massachusetts) offshore wind projects.

Avangrid Renewables is also the 100% owner of Kitty Hawk Offshore Wind (2,500 MW) located off the coast of North Carolina and Virginia with the potential to deliver power to both states.

“With our completed restructuring, we are now even better positioned to continue to lead the burgeoning offshore wind industry in the United States,”
said Dennis V. Arriola, CEO of AVANGRID. “We’ve got the right team in place and the expertise to bring these projects to commercial operation, to develop and build new projects, and to help our country meet its clean offshore energy goal of 30 GW by 2030.”

“Today marks the next phase for the Avangrid Renewables Offshore team as we continue to bring financial capital, global experience and technical expertise in offshore wind to the U.S. market,”
said Bill White, president and CEO of Avangrid Renewables Offshore. “We have built a strong team of industry-leading offshore wind professionals, with a balanced mix of U.S. and global experts, and plans to add as many as 100 additional professionals in the coming year.”

Avangrid Renewables also announced it has promoted two senior leaders responsible for implementing the company’s growing offshore wind project pipeline and securing projects and growth.

Sy Oytan has been appointed Senior Vice President for Offshore Project Management. Oytan is now responsible for the leadership and completion of Park City Wind and Commonwealth Wind. Oytan also continues in his role as Deputy CEO of Vineyard Wind 1 and will remain integral to the project’s successful construction.

Eric Thumma is promoted to Vice President for Offshore New Business. Thumma is responsible for the businesses’ commercial agreements, growth opportunities and strategies.