Avangrid officials said the project has closed on an aggregate of approximately $2.3 billion of construction and term loan financing with nine global lending banks. The company now expects to begin construction work on Vineyard Wind 1 this fall. Avangrid is joining forces with Copenhagen Infrastructure Partners, a Danish fund management and investment company, to launch the wind farm, which will consist of 62 wind turbines situated about 15 miles south of Martha’s Vineyard and Nantucket. The project is expected to generate 800 megawatts of electricity annually for Massachusetts, enough to power over 400,000 homes.
https://www.hartfordbusiness.com/article/avangrid-copenhagen-joint-wind-venture-reaches-financial-close