Avangrid Secures Two Lease Areas in Gulf of Maine Floating Wind Auction
Avangrid (NYSE: AGR) has secured two lease areas in the Gulf of Maine offshore wind auction for a total of $11.1 million. The areas, OCS-A 0564 (98,565 acres) and OCS-A 0568 (124,897 acres), have the potential to deliver 3 Gigawatts of clean power to New England. Located approximately 30 nautical miles from shore, these areas feature strong wind speeds and relatively shallow waters suitable for floating wind technology. This acquisition adds to Avangrid's existing 5 GW offshore wind pipeline on the East Coast, making it the largest offshore developer in the Northeast by total acreage.
Avangrid (NYSE: AGR) ha acquisito due aree di affitto nell'asta dell'energia eolica al largo della costa del Maine per un totale di 11,1 milioni di dollari. Le aree, OCS-A 0564 (98.565 acri) e OCS-A 0568 (124.897 acri), hanno il potenziale di fornire 3 Gigawatt di energia pulita per il New England. Situate a circa 30 miglia nautiche dalla costa, queste aree presentano forti velocità del vento e acque relativamente poco profonde adatte per la tecnologia eolica galleggiante. Questa acquisizione si aggiunge al già esistente pipeline di energia eolica offshore da 5 GW della Avangrid sulla costa orientale, rendendola il più grande sviluppatore offshore nel Nord Est per superficie totale.
Avangrid (NYSE: AGR) ha asegurado dos áreas de arrendamiento en la subasta de energía eólica en alta mar en el Golfo de Maine por un total de 11,1 millones de dólares. Las áreas, OCS-A 0564 (98,565 acres) y OCS-A 0568 (124,897 acres), tienen el potencial de entregar 3 Gigavatios de energía limpia a Nueva Inglaterra. Ubicadas a aproximadamente 30 millas náuticas de la costa, estas áreas cuentan con fuertes velocidades de viento y aguas relativamente poco profundas adecuadas para la tecnología eólica flotante. Esta adquisición se suma al ya existente pipeline de energía eólica en alta mar de 5 GW de Avangrid en la costa este, convirtiéndola en el mayor desarrollador offshore del Nordeste por superficie total.
Avangrid (NYSE: AGR)는 메인 만에서의 해상 풍력 경매에서 총 1,110만 달러에 두 개의 임대 지역을 확보했습니다. 이 지역, OCS-A 0564 (98,565 에이커)와 OCS-A 0568 (124,897 에이커)은 뉴잉글랜드에 3 기가와트의 청정 전력을 공급할 수 있는 잠재력을 가지고 있습니다. 해안에서 약 30 해리 떨어진 이 지역은 강한 바람 속도와 부유식 풍력 기술에 적합한 상대적으로 얕은 수역을 특징으로 합니다. 이번 인수는 Avangrid의 동부 해안에 있는 기존의 5 GW 해상 풍력 파이프라인에 추가되어, 전체 면적 기준으로 북동부에서 가장 큰 해상 개발자가 되었습니다.
Avangrid (NYSE: AGR) a sécurisé deux zones de location dans l'enchère de l'énergie éolienne en mer du Golfe du Maine pour un total de 11,1 millions de dollars. Les zones, OCS-A 0564 (98,565 acres) et OCS-A 0568 (124,897 acres), ont le potentiel de fournir 3 Gigawatts d'énergie propre à la Nouvelle-Angleterre. Situées à environ 30 milles nautiques de la côte, ces zones présentent des vitesses de vent élevées et des eaux relativement peu profondes adaptées à la technologie éolienne flottante. Cette acquisition s'ajoute au pipeline d'énergie éolienne en mer de 5 GW existant d'Avangrid sur la côte Est, faisant d'elle le plus grand développeur offshore du Nord-Est en termes de superficie totale.
Avangrid (NYSE: AGR) hat zwei Leasingflächen in der Auktion für Offshore-Windkraft im Golf von Maine für insgesamt 11,1 Millionen Dollar gesichert. Die Flächen, OCS-A 0564 (98.565 Acres) und OCS-A 0568 (124.897 Acres), haben das Potenzial, 3 Gigawatt saubere Energie nach Neuengland zu liefern. Etwa 30 Seemeilen von der Küste entfernt, zeichnen sich diese Bereiche durch starke Windgeschwindigkeiten und relativ flache Gewässer aus, die für schwimmende Windtechnologie geeignet sind. Diese Akquisition ergänzt die bestehende 5 GW Offshore-Windpipeline von Avangrid an der Ostküste und macht sie zum größten Offshore-Entwickler im Nordosten nach Gesamtflächen.
- Secured two lease areas at competitive prices: $4.9M and $6.2M
- Potential to generate 3 GW of clean energy
- Strategic location with strong wind speeds and suitable water depth
- Expanded total offshore wind pipeline to over 8 GW
- Largest offshore development portfolio in Northeast by acreage
- None.
Insights
The acquisition of two Gulf of Maine lease areas marks a significant expansion of Avangrid's offshore wind portfolio at a notably competitive price of
The strategic positioning in the Northeast, coupled with existing projects like Vineyard Wind 1 and New England Wind, strengthens Avangrid's market leadership. The lease areas' characteristics - strong wind speeds, manageable water depths and multiple interconnection points - indicate strong project viability. This expansion aligns with both federal offshore wind targets and regional clean energy demands, potentially providing steady long-term revenue streams once operational.
This acquisition represents a important step in advancing floating wind technology deployment in the U.S., addressing the technical challenges of deeper-water wind development. The lease areas' location approximately 30 nautical miles offshore balances optimal wind resources with environmental impact considerations. The prior federal deconfliction process suggests reduced permitting risks compared to other offshore developments.
The project's alignment with both the U.S. 30 GW offshore wind target and New England's ambitious 34 GW regional goal by 2050 positions it favorably for potential state support and power purchase agreements. Avangrid's ability to leverage Iberdrola's European floating wind expertise significantly reduces technological risk and could accelerate project development timelines.
Avangrid adds to Iberdrola Group floating wind portfolio, secures Lease Areas OCS-A 0564 and OCS-A 0568 with the potential to deliver approximately 3 Gigawatts of clean energy to New England region
“Avangrid is proud to secure two lease areas in today’s auction with the potential to deliver 3 Gigawatts of clean energy to the New England region, which affirms our position as a national leader in the United States’ offshore wind industry and builds on the Iberdrola Group’s global floating wind portfolio,” said Avangrid CEO Pedro Azagra. “Securing these lease areas provides a unique opportunity to advance our growing business at a significant value, and reinforces our unwavering commitment to helping the New England region meet its growing need for reliable, clean energy.”
Lease areas OCS-A 0564 and OCS-A 0568, located in the southwest region of the Gulf of
In August 2024, ISO New England issued a draft report, Economic Planning for the Clean Energy Transition, which found that in order to meet its energy needs and state climate targets, the New England region will need approximately 34 Gigawatts of offshore wind power by 2050. To reach this goal, a sizable percentage of new offshore wind in New England will need to utilize floating wind technology.
Not including the lease area secured today, Avangrid has a projected offshore wind pipeline of over 5 GW on the East Coast of
In addition to its substantial experience developing projects in the U.S. market, including the Vineyard Wind 1 project, Avangrid is positioned to leverage the global expertise of Iberdrola, which is pioneering floating offshore wind in
As one of the largest renewable energy developers in the nation, Avangrid has a 9 GW portfolio of more than 75 wind and solar facilities in 25 states, generating enough energy to power over 2.8 million homes across the country.
In September 2024, Avangrid’s 791 Megawatts (MW) New England Wind 1 project was selected by the Commonwealth of
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029783481/en/
Avangrid
Craig Gilvarg
craig.gilvarg@Avangrid.com
(857) 998-1130
Source: AVANGRID, Inc.
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