Avangrid Renewables Submits Construction and Operations Plan for Kitty Hawk Offshore Wind Project

Rhea-AI Summary

Avangrid Renewables submitted a Construction and Operations Plan (COP) for the Kitty Hawk Offshore Wind project to the Bureau of Ocean Energy Management on December 11. The first phase is set to generate approximately 800 MW, contributing to a total capacity of up to 2,500 MW, enough to power 700,000 homes. The project is expected to create nearly 800 jobs and generate $2 billion in economic impact from 2021 to 2030, with significant benefits primarily in the Hampton Roads region. Construction is anticipated to begin in 2024.

Positive

• Kitty Hawk Offshore Wind project will have a total capacity of up to 2,500 MW, powering 700,000 homes.
• The project is expected to create approximately 800 jobs, with nearly 600 in the Hampton Roads region.
• $2 billion in economic impact anticipated from 2021 to 2030.

Negative

• None.

Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR), a leading developer of onshore and offshore wind in the U.S., submitted a Construction and Operations Plan (COP) to the federal Bureau of Ocean Energy Management (BOEM) on Friday, December 11^th for the first phase of the company’s wholly owned Kitty Hawk Offshore Wind project. The COP also includes the findings from an economic impact study (EIS), conducted by the Public Strategy Group, which anticipates substantial economic and employment benefits to result from the construction of Kitty Hawk Offshore Wind’s multiple phases between 2021 and 2030.

“We’re proud to be the first to submit a federal permit for a commercial scale offshore wind project in Virginia and the Carolinas,” said Bill White, Avangrid Renewables’ head of U.S. offshore wind. “Kitty Hawk Offshore Wind will deliver clean energy to customers in the region and significant economic benefits and quality jobs for decades to come.”

The first phase of the project, anticipated to begin construction as soon as 2024, will have the capacity to generate approximately 800 megawatts (MW) of electricity. When all phases are complete, Kitty Hawk Offshore Wind is expected to have a total generation capacity of up to 2,500 MW, or enough to power 700,000 homes – approximately four times the number of households in Virginia Beach -- with clean energy.

“The offshore wind industry presents tremendous opportunity to the Hampton Roads region,” said Doug Smith, president and CEO of the Hampton Roads Alliance. “I look forward to working with Avangrid Renewables as they develop the Kitty Hawk Offshore Wind project and deliver substantial economic benefits to the Hampton Roads region.”

The EIS found that the project will drive significant economic activity and employment opportunity in the region. Kitty Hawk Offshore Wind is expected to generate $2 billion in economic impact between 2021 and 2030 and is expected to create nearly 800 jobs in Virginia and North Carolina, with nearly 600 of those in the Hampton Roads region which includes southeastern Virginia and northeastern North Carolina.

An executive summary and full EIS can be viewed here. 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 primarily using wind power. 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) is a leading, sustainable energy company with approximately $36 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns 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 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For more information, visit www.avangrid.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 primarily using wind power. 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) is a leading, sustainable energy company with approximately $36 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns 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 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For more information, visit www.avangrid.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005273/en/

FAQ

What is the status of the Kitty Hawk Offshore Wind project by AGR?

Avangrid Renewables submitted a Construction and Operations Plan for the Kitty Hawk Offshore Wind project on December 11.

When will the construction of the Kitty Hawk Offshore Wind project begin?

Construction for the first phase is anticipated to begin in 2024.

What is the expected economic impact of the Kitty Hawk Offshore Wind project?

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

How many jobs will the Kitty Hawk Offshore Wind project create?

The project is expected to create nearly 800 jobs, with significant opportunities in the Hampton Roads region.

What capacity will the Kitty Hawk Offshore Wind project generate?

The first phase will generate approximately 800 MW, with a total capacity of up to 2,500 MW when fully completed.