Avangrid Renewables’ Kitty Hawk Offshore Wind Project Advances in BOEM Permitting Process

Rhea-AI Summary

Avangrid Renewables, a subsidiary of AVANGRID (NYSE: AGR), announced that the U.S. Bureau of Ocean Energy Management has issued a Notice of Intent to prepare an Environmental Impact Study for the Kitty Hawk North offshore wind project. This project, located over 27 miles off the Outer Banks, will have a capacity of at least 800 MW, contributing to a total potential of 2,500 MW in the Kitty Hawk Wind Energy Area. Estimated economic impact is $2 billion, creating nearly 1,000 jobs between 2021 and 2030, supporting clean energy goals in Virginia and North Carolina.

Positive

• Kitty Hawk North project supports 800 MW capacity, potentially scalable to 2,500 MW.
• Estimated economic impact of $2 billion between 2021 and 2030.
• Anticipated creation of nearly 1,000 jobs in Virginia and North Carolina.

Negative

• None.

Avangrid Renewables LLC, a subsidiary of AVANGRID, Inc. (NYSE: AGR), today confirmed that the U.S. Bureau of Ocean Energy Management (BOEM) has issued a Notice of Intent (NOI) to prepare an Environmental Impact Study (EIS) for Kitty Hawk North, the first project within the company’s Kitty Hawk Wind Energy Area (WEA). The NOI initiates a 30-day public comment period to define the scope of the EIS, the major permitting study required for project approval.

“Kitty Hawk builds on our successful development of over 1,600 megawatts of offshore wind projects in New England,” said Alejandro de Hoz, President and CEO of Avangrid Renewables. “Kitty Hawk can transform the energy mix of Virginia and North Carolina while delivering a triple-win for the environment, coastal communities and the region’s economy. We look forward to continuing our work with state and local leaders, BOEM, and communities to begin the formal environmental review and ultimately deliver this transformational project.”

Kitty Hawk North consists of nearly 50,000 acres located over 27 miles off the coast of the Outer Banks, due east of Corolla, N.C., with a capacity of at least 800 megawatts (MW). When the entire 122,405 acre Kitty Hawk WEA is developed, it is expected to support a total generation capacity of up to 2,500 MW - enough to power 700,000 homes with clean energy.

“Kitty Hawk North is a game changer for the mid-Atlantic,” said Bill White, head of offshore wind for Avangrid Renewables. “Not only can this project help Virginia and North Carolina meet their vital clean energy goals with cost-effective power, but Kitty Hawk will help a new industry take flight in this region and create thousands of quality jobs.”

Kitty Hawk North is an historic project for Virginia and North Carolina as it can:

• Support ambitious clean energy targets such as those included in the Virginia Clean Economy Act (5,200 MW) and Governor Cooper’s Executive Order establishing offshore wind targets (8,000 MW) for North Carolina;
• Generate an estimated $2 billion of economic impact between 2021 and 2030 in Virginia and North Carolina; and,
• Create or support nearly a thousand annual jobs in Virginia and North Carolina both through construction and once the project is operational.

Kitty Hawk Offshore Wind has established a local office, located at 249 Central Park Avenue in Virginia Beach, to support ongoing project development, community outreach and workforce development activities.

Avangrid Renewables is a leading developer and operator of onshore wind and solar and is pioneering the development of offshore wind in the U.S. In addition to Kitty Hawk, Avangrid Renewables is a partner on Vineyard Wind 1, the first commercial-scale offshore wind project in the United States which will deliver 800 MW of clean energy to Massachusetts beginning in 2023. The company is also a partner on Park City Wind, an 804 MW project that will serve the state of Connecticut, as well as on additional lease areas off the coasts of Massachusetts and Rhode Island which can deliver up to 3,500 MW.

To learn more about the project, please visit: www.kittyhawkoffshore.com.

About Avangrid Renewables: Avangrid Renewables, LLC is a subsidiary of AVANGRID, Inc. and part of the IBERDROLA Group. It is a leading renewable energy company in the United States, owning and operating a portfolio of renewable energy generation facilities. IBERDROLA, S.A., is an energy pioneer with the largest renewable asset base of any company in the world. Avangrid Renewables is headquartered in Portland, Oregon. For more information, visit www.avangridrenewables.com.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $39 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by Forbes and Just Capital as one of the 2021 JUST 100 companies – a list of America’s best corporate citizens – and was ranked number one within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2021 for the third consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

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FAQ

What is the Kitty Hawk North project announced by Avangrid?

The Kitty Hawk North project is an offshore wind project with an initial capacity of at least 800 MW, aimed at contributing to clean energy goals in Virginia and North Carolina.

How much economic impact is expected from the Kitty Hawk North project?

The project is expected to generate an estimated economic impact of $2 billion between 2021 and 2030.

What is the duration of the public comment period for the Kitty Hawk project?

A 30-day public comment period has been initiated following the issuance of a Notice of Intent for the project's Environmental Impact Study.

How many jobs will the Kitty Hawk North project create?

The Kitty Hawk North project is estimated to create or support nearly 1,000 jobs in Virginia and North Carolina.

When is the Kitty Hawk project expected to deliver clean energy?

Construction timelines were not specified in the announcement; however, it is part of a broader initiative to meet clean energy goals in the region.