Vineyard Wind obtains financial close
16 Sep 2021 - Upstream Costs and Technology | Headline Analysis
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Melvin LeongMelvin LeongPrincipal Research Analyst

The much anticipated 800 MW Vineyard Wind project in the United States has achieved financial close, announced joint-venture partners Avangrid Renewables and Copenhagen Infrastructure Partners (CIP). The construction of the project will be financed through USD2.3 billion of senior debt raised from nine international and US-based banks. The project will provide notice to proceed to its contractors in the coming weeks. Onshore work will begin this quarter with offshore work targeted for 2022. First power is expected to be delivered to the grid in 2023.

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