Iberdrola's Vineyard Wind Now Generating Power, Faces Ørsted Competition in New England
Iberdrola's New England Wind project in Massachusetts faces competition from Ørsted, while Iberdrola's Vineyard Wind project, the first large-scale offshore wind farm permitted in the US, has encountered delays and setbacks but is now generating news. Ørsted, the Danish energy company behind the South Fork Wind and Revolution Wind projects, is Iberdrola's main competitor for the New England Wind project. Meanwhile, Vineyard Wind, Iberdrola's flagship project, has begun producing electricity. By the end of June, 17 turbines were delivering power, with half of Vineyard Wind's turbines now operational off Massachusetts. The project's progress has not been smooth. In 2021, a turbine blade detached and crashed into the ocean, causing significant delays. This incident followed an earlier setback when a blade manufacturing error led to a turbine failure. Despite these challenges, Iberdrola executives remain optimistic, expecting Vineyard Wind to be completed in the coming months. The Trump administration had planned to revoke permits for Iberdrola's offshore wind farms, including New England Wind. However, Vineyard Wind, with its 20-year power purchase agreement to supply 400,000 homes, has overcome this hurdle. Iberdrola initially purchased the ocean lease south of Martha's Vineyard for $150,000 in 2015, which was later divided into three leases. With Vineyard Wind now generating power and Iberdrola facing competition from Ørsted in the New England Wind project, the offshore wind industry in the US continues to grow. Despite setbacks, Vineyard Wind's completion is expected to bring clean energy to hundreds of thousands of homes in Massachusetts.
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