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AVANGRID Statement on Federal Environmental Review of New England Wind Offshore Project
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Rhea-AI Summary
AVANGRID (NYSE: AGR) announced significant progress regarding the Bureau of Ocean Energy Management’s (BOEM) Draft Environmental Impact Statement (DEIS) for its New England Wind Offshore project. This initiative includes the Commonwealth Wind (1232 MW) and Park City Wind (804 MW) projects, which collectively aim to provide over 2000 MW of sustainable energy, enough to power over one million households. The projects are expected to drastically reduce emissions by nearly four million tons annually. AVANGRID emphasizes the importance of these developments in addressing the energy and climate crisis in New England.
Positive
The DEIS represents a significant milestone for the Commonwealth Wind and Park City Wind projects, facilitating federal permitting.
These projects will generate over 2000 MW of renewable energy, powering more than one million households.
The initiative aims to reduce emissions by approximately four million tons, equivalent to removing over 770,000 cars from the road.
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ORANGE, Conn.--(BUSINESS WIRE)--
AVANGRID (NYSE: AGR), a leading sustainable energy company and part of the Iberdrola Group, today released the following statement regarding the Bureau of Ocean Energy Management’s (BOEM) Draft Environmental Impact Statement (DEIS) on AVANGRID’s New England Wind Offshore project, consisting of the 1232 Megawatt (MW) Commonwealth Wind and 804 MW Park City Wind projects.
“AVANGRID is grateful to the Bureau of Ocean Energy Management for its comprehensive environmental review of New England Wind – which represents more than 2000 Megawatts of clean, affordable power through the Commonwealth Wind and Park City Wind projects. In total, the projects will power over one million households, reduce emissions by nearly four million tons – equivalent to taking more than 770,000 cars off the road annually. AVANGRID welcomes the Draft Environmental Impact Statement issued by BOEM, and is pleased that the BOEM has identified the environmental impacts and benefits of the project in a clear and consistent manner, which marks a pivotal step toward bringing these projects to the New England region. The release of the DEIS is yet another milestone marking the strong forward momentum of the projects, and as New England confronts both the energy and climate crisis, we recognize the urgent need to continue moving through the federal permitting process and bring this critical power to the grid to help the region meet its collective, ambitious clean energy and climate goals.
“As a leading sustainable energy company strongly committed to the U.S. energy transition, we are heartened by the clear forward momentum behind the projects, and remain focused on delivering these urgent solutions to Massachusetts and Connecticut, creating thousands of jobs, and accelerating the nation’s transition to a better, brighter clean energy future.”
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 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 more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second 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 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
