Iberdrola, through Avangrid, its subsidiary in the United States, has been awarded a 791 MW contract to build the New England Wind 1 offshore wind farm. When it comes into operation, the facility will provide clean, emission-free energy to 400,000 homes.
Likewise, the new wind farm will reduce greenhouse gas emissions equivalent to taking 300,000 gasoline-based cars off the roads annually, which will help advance the country's climate objectives.
The project will create more than 4,400 full-time equivalent jobs and bring $3 billion of local investment to the region, including a new world class marshalling port in Salem, Massachusetts, and a new offshore wind manufacturing facility in New Bedford, Massachusetts. If a power purchase agreement is signed and approved, then the project can begin construction in 2025 and reach full commercial operation in 2029.
This new milestone allows the company to continue its determined commitment to the development of offshore wind energy projects around the world, contributing to the energy transition and independence from fossil fuels in order to achieve decarbonization.
New England 1 will border Vineyard Wind 1, the country's first large-scale offshore wind project, currently currently under construction 15 miles south of Martha's Vineyard. Likewise, Vineyard Wind will generate electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 full time equivalent jobs, save consumers $1.4 billion during the first 20 years of operation and reduce carbon emissions by more than 1.6 million metric tons per year.
Boost to offshore wind
Earlier this week, the company, through its subsidiary in the United Kingdom, ScottishPower, was awarded two contracts in the sixth round of auction of contracts for difference by the Administration, including its East Anglia Two offshore wind farm. Together, both contracts will supply more than 1,000 MW of clean energy to more than one million homes.
Two decades ago, Iberdrola was a pioneer in onshore wind energy and, now, it is also a pioneer in offshore wind energy. This technology represents one of the company's greatest growth vectors. Specifically, at the end of the first half of this year the company had 2,300 MW of offshore installed. In 2025 it will reach 3,000 MW, and in 2026 it will reach 4,800 MW thanks to significant investments around the world.
Among the company's most notable projects, in addition to Vienyard Wind I, in the United States, are East Anglia One, East Anglia Two and East Anglia Three, in the United Kingdom, Saint Brieuc, in France, and its three parks in Baltic waters: Wikinger, Baltic Eagle and Windanker.
