USD 1.2 Billion Tax equity financing secured for Vineyard Wind 1 offshore wind project
JP Morgan Chase, Bank of America and Wells Fargo have provided US$1.2 billion in tax equity financing for the Vineyard Wind 1 offshore wind farm in Massachusetts, USA.
Vineyard Wind 1, situated 15 miles (24km) off Martha’s Vineyard, is a substantial 806 MW project with a total investment of US$2.3 billion. The wind farm is set to feature 62 GE Haliade-X turbines, each boasting a power generating capacity of 13 MW. Once operational, it will provide clean electricity for around 400,000 households in Massachusetts and prevent 1.6 million tonnes of carbon emissions annually. Construction work on-site commenced in late 2021, with the offshore substation successfully installed in July 2023. Notably, the project reached a significant milestone in October 2023 with the installation of its first turbine, capable of supplying clean power to 6,000 homes.
Country updates
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October 24, 2023
US$252 million financing package received for 260 MW solar projects in USA
Opdenergy has closed a US$252 million project financing package for two solar projects in USA.
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October 16, 2023
Avangrid terminated PPA for 804 MW Offshore wind farm in USA
Avangrid and the Connecticut Electric Distribution Companies have agreed to terminate power purchase agreements (PPAs) for the 804 MW Park City Wind offshore project in Connecticut, USA.
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October 16, 2023
Construction started for three solar plus storage projects in Mississippi
Origis Energy and the Tennessee Valley Authority (TVA) announced that construction has begun on the first of three solar projects with a total capacity of 550 MW plus 150 MW o...
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October 13, 2023
Final closing of inaugural partnership announced by Saxum Energy Partners
Saxum Energy Partners has closed its inaugural partnership at a US$435 million hard cap and made an acquisition of a premier Permian Basin mineral position from Luxe Minerals. Saxum initiated th...
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October 13, 2023
Acquisition announced of Two Solar Facilities in Texas
Southern Power, a U.S. wholesale energy provider and a subsidiary of Southern Company, announced the acquisition of two Solar facilities from EDF Renewables in Texas, USA. Southern Power's expan...
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