Iberdrola receives first clearance from the Biden Administration for New England Wind projects
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) and the Construction and Operations Plan Approval (COP), expected in 2024, represent an important milestone in obtaining permits for the construction of the future wind farm.
On 26 February 2024, New England Wind received the Final Environmental Impact Statement (FEIS). The issuance of the ROD by the Department of Interior follows years of intensive engagement with members of the local residential and fishing communities and other stakeholders. Approval of the Construction and Operations Plan (COP) is expected in July 2024.
The New England Wind project, consisting of New England Wind 1 and New England Wind 2, has the potential to create thousands of jobs and provide approximately 2 gigawatts of clean, reliable energy, enough to power nearly one million homes and businesses in the region, which would reduce nearly 4 million tonnes of carbon dioxide, equivalent to taking approximately 700,000 cars off the road each year over the life of the project. In total, it will create up to 9,200 full-time skilled jobs and bring 8 billion dollars in direct investment to the region.
In addition, the project 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 prepared offshore wind opportunity in the Northeast region.
If selected, the project, which would be located about 30 miles south of Barnstable, Massachusetts, could begin construction in 2025 and be in commercial operation before the end of the decade, helping to meet New England's ambitious 2030 climate goals.
Leading developer of offshore wind
The United States is Iberdrola's main investment focus within its 2024-2026 strategic plan, to which it will allocate 41 billion euros. Specifically, the country will receive 35% of the investment, some 14.35 billion euros.
Electricity grids will be the main segment of the investments. Some 21.5 billion euros will be devoted mainly to extending and reinforcing the networks. In renewables, Iberdrola plans to invest 15.5 billion euros gross in the coming years, of which more than half will focus on offshore wind in the United States, the United Kingdom, France and Germany, totalling 3,000 MW.
Iberdrola is the leading developer of offshore wind energy in the United States. On 27 March 2024, it submitted numerous proposals for new offshore wind in Massachusetts-Rhode Island-Connecticut. The states are expected to announce the selected projects in August 2024.
The company currently has the Vineyard Wind I farm under construction. With 806 MW of capacity, it is the country's first commercial-scale offshore wind farm and will supply clean, reliable power to 400,000 homes, which is more than half the size of a city like Boston or the entire island of Palma de Mallorca.
In February, the energy company announced the commissioning of the first five turbines that will supply clean energy to 30,000 homes and businesses in Massachusetts.
In addition to Vineyard Wind I, the company's most notable offshore wind projects include the East Anglia Hub complex in the United Kingdom, which contains three projects with a total installed capacity of 2,900 MW, Saint-Brieuc in France, and its three wind farms in Baltic waters: Wikinger, Baltic Eagle and Windanker.
