January 26, 2023 — Later this year, the 800-megawatt capacity Vineyard Wind 1 project will begin delivering electricity to the Massachusetts grid. And lead owner Avangrid Inc along with its 81.65 percent owner Iberdrola SA have indicated the project remains on budget for when it enters full commercial operations, expected in early 2024.
After that, however, the way ahead for U.S. offshore wind is considerably less clear. The Biden Administration is supportive as ever, pledging last month to expedite permitting to the construction stage for at least 16 offshore wind arrays by 2025.
That now includes a published draft environmental review of Dominion Energy’s proposed 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) facility. The project will be developed with a vessel owned by the company and now being built in Texas, which should allow management to control costs and potentially profit by leasing for other offshore wind construction.