Renewable energy firm Avangrid and fund manager Copenhagen Infrastructure Partners said on Thursday their joint venture, Vineyard Wind 1, has begun operations at five of its wind turbines, supplying 68 megawatts (MW) to the New England grid.
Currently, the project has successfully installed nine turbines and is in the process of installing the 10th, with preparations underway to transport the 11th turbine to the offshore project site.
Offshore wind projects in the U.S. have been facing financial troubles in recent months on account of inflation, rising interest rates and an increase in project costs due to supply chain issues.
The industry is, however, expected to play a major role in helping several states and President Joe Biden meet goals to decarbonize the power grid and combat climate change.
The 806-MW Vineyard Wind 1 project, offshore construction of which began in late 2022, is located 15 miles off the coast of Martha's Vineyard.
Once completed, Vineyard Wind 1 will consist of 62 wind turbines which can provide power to almost 400,000 Massachusetts homes and businesses.
(Reuters - Reporting by Vallari Srivastava; Editing by Krishna Chandra Eluri)
