Vineyard Wind Named Climate Change Project of the Year by Environmental Business Council of New England

Rhea-AI Summary

Avangrid, Inc. and Copenhagen Infrastructure Partners' joint venture, Vineyard Wind 1 Project, wins Ruth H. Silman Award for Climate Change Project of the Year. The project, the first large-scale offshore wind project in the US, aims to power 400,000 homes and reduce carbon emissions by over 1.6 million tons per year. With 62 wind turbines over 800 feet high, the project has created over 2,000 jobs and delivered $590 million in economic output to Massachusetts.

Ruth H. Silman Award Recognizes Project or Endeavor Which Demonstrates Leadership in Climate Change

BOSTON--(BUSINESS WIRE)-- Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, and Copenhagen Infrastructure Partners (CIP), a global leader in green energy investment and in offshore wind development through its affiliate Vineyard Offshore, today announced that their joint venture Vineyard Wind 1 Project has received the Ruth H. Silman Award for Climate Change Project of the Year by the Environmental Business Council (EBC) of New England. The award, which was established in January 2020, recognizes a project or endeavor which demonstrates leadership in climate change. Avangrid and CIP will receive the award at the EBC APEX Awards Celebration on Thursday, June 13, 2024 at City Winery in Boston, Massachusetts.

“We are honored and grateful to receive this important recognition for our Vineyard Wind 1 project, and thank the Environmental Business Council for their partnership and support as we work together to take urgent action on climate change,” said Avangrid CEO Pedro Azagra. “Vineyard Wind 1 is a trailblazing project for the New England region and the nation, and we are proud every day to set a foundation from which an entire clean energy industry can flourish and meaningfully address our climate challenges.”

“EBC is honored to present the Ruth H. Silman Award for Climate Change Project of the Year to Vineyard Wind 1, a project that moves Massachusetts, and the entire New England region, into a cleaner, more sustainable energy future,” said EBC Executive Director Ann Gisinger.

Vineyard Wind 1 is the first large-scale offshore wind project in the United States. Located on the outer continental shelf, the 806 MW facility consists of 62 wind turbines over 800 feet high.

Vineyard Wind 1, in collaboration with federal colleagues at the United States Bureau of Ocean Energy Management, developed a permitting assessment covering potential environmental, social, economic, historic, and cultural impacts that could result from its construction, operation, maintenance, and eventual decommissioning. When fully operational, Vineyard Wind 1 will power approximately 400,000 homes while reducing carbon emissions by over 1.6 million tons per year. Additionally, the project has created more than 2,000 jobs to date, and delivered $590 million in total economic output to the Massachusetts’ economy.

In February 2024, Avangrid and CIP powered up the first five turbines for the nation-leading Vineyard Wind 1 project, delivering clean energy to 30,000 homes and businesses in Massachusetts. The first large-scale offshore wind project in the United States, Vineyard Wind 1 will be the largest renewable energy facility in New England once fully operational, delivering 806 Megawatts – enough clean electricity to power 400,000 homes and businesses in the Commonwealth.

To honor and acknowledge the special contributions of Ruth H. Silman to the field of environmental law and the environmental community at large in New England, and in particular her passion and advocacy concerning climate change, a resolution of the Board of Directors on May 17, 2023 advanced the name of the EBC Award for Climate Change Project of the Year award to the Ruth H. Silman Award for Climate Change Project of the Year.

Silman concentrated her practice on complex environmental and land use matters. A graduate of Cornell University and Boston University School of Law, she joined Nixon Peabody after working in the Massachusetts attorney general’s office and as an associate at Anderson & Kreiger.

Silman focused on environmental, energy, and land-use issues, had particular expertise in the Clean Air Act, and was one of the leading air and climate lawyers in New England. She led Nixon Peabody’s Climate Change Team, a group of lawyers and environmental scientists/engineers assisting the firm’s energy, industrial, and financial clients to meet the challenges and seize the opportunities emerging from legislative, regulatory, and judicial responses to the issue of climate change.

The EBC APEX Awards, for the advancement and promotion of environmental and energy excellence, are presented every June to celebrate the incredible accomplishments of the industry. From innovative climate change projects to technical excellence in brownfields management, from outstanding collaborations to inspiring government leadership, the APEX Awards encourage companies, government agencies, non-profit organizations, and environmental professionals to serve as models for others to emulate, and in doing so, further the mission and objectives of the EBC.

Vineyard Wind began offshore construction in late 2022, achieved steel-in-the-water in June, and completed the nation’s first offshore substation in July. Construction flows through the New Bedford Marine Commerce Terminal. In July 2021, Vineyard Wind signed the first Project Labor Agreement for an offshore wind project in the United States, which outlined the creation of 500 union jobs through the project. In December 2023, project shareholders announced that Vineyard Wind 1 has delivered nearly double of its commitment through the PLA by creating 937 union jobs through two years of construction.

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240404085451/en/

Media:

Craig Gilvarg

craig.gilvarg@avangrid.com

857-998-1130

Source: AVANGRID, Inc.

FAQ

What award did Avangrid and Copenhagen Infrastructure Partners' joint venture, Vineyard Wind 1 Project, win?

The Ruth H. Silman Award for Climate Change Project of the Year.

What is the ticker symbol for Avangrid, Inc.?

AGR

Where is the Vineyard Wind 1 Project located?

On the outer continental shelf.

How many homes will Vineyard Wind 1 power when fully operational?

Approximately 400,000 homes.

How much will carbon emissions be reduced by when Vineyard Wind 1 is fully operational?

Over 1.6 million tons per year.