Galán presents Iberdrola’s macro-investment for 10,000 million to the governor of Massachusetts | companies

The Chairman of Iberdrola, Ignacio Galán, met today with the Governor of Massachusetts, Charlie Baker, to present the investments that the electric company will make in three offshore wind projects totaling more than 10,000 million dollars. As detailed by the company, Galán has also explained the group’s growth plan in the United States for the period 2020-2025, which will allow it to double the renewable generation capacity and promote the decarbonization of the country.

“Our projects in Massachusetts will be essential to make the United States’ goal of reaching 30,000 MW of wind energy in 2030 a reality, and with them we will generate industrial development and employment,” Galán stressed.

In addition, the Chairman of Iberdrola has held another meeting with Maura Healey, Massachusetts State Attorney General, to whom he also conveyed Iberdrola’s commitment to investing in clean energy in the state. According to Iberdrola, Healey has shown “his full satisfaction with the company’s investments.” And it is that offshore wind technology has great growth potential in the country, where it is expected to reach an installed capacity of 30 GW in 2030.

Specific, in Massachusetts, Iberdrola is developing 2,800 MW of offshore wind in three different projects and is developing a 1,200 MW capacity interconnection line to transport hydroelectric power from Canada. As a whole, Iberdrola’s projects will make it possible to cover 35% of the state’s electricity demand with clean energy and will create 4,000 jobs during their construction in the coming years.

Construction has recently begun on Vineyard Wind One, the first large offshore wind farm in the country. The project of 800 megawatts (MW), located approximately 24 km south of the coast of Martha’s Vineyard, will generate enough wind energy to meet the demand of more than 400,000 homes. In addition, its implementation will also avoid the emission of more than 1.6 million tons of carbon dioxide per year, the equivalent of removing 325,000 vehicles from the roads.

Also, in December, Avangrid was awarded a contract for the offshore wind farm Commonwealth Wind, in Massachusetts. The project of 1.232 MW, the largest offshore wind project in New England to date, will involve an investment of $4 billion and create 11,000 jobs. As part of the project, Iberdrola is promoting the installation of a submarine cable factory in the state on the former site of a coal-fired power plant.

It is also developing in the same area Park City Winda Proyect of 804 MW that will supply clean energy to Connecticut customers while revitalizing the Port of Bridgeport, home to the operations and maintenance office and warehouse for construction components. The project is expected to be completed in 2027.

On the other hand, the company also owns the Kitty Hawk development area (2,500 MW), in the waters of North Carolina and Virginia, and has begun the process of obtaining permits from the Federal Office of Marine Energy Management ( BOEM) for the Kitty Hawk North farm (800 MW), the first project proposed in this area.

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