Vineyard Wind 1

"International law firm Watson Farley & Williams advised Copenhagen Infrastructure Partners on the acquisition, on behalf of its Copenhagen Infrastructure II fund, of 100% of OffshoreMW LLC from leading US private equity firm Blackstone. OffshoreMW holds a 675 square km offshore wind energy lease issued by the US Bureau of Ocean Energy Management and located off the coast of Massachusetts" (WFW release, 6 Sep 2016, republished on windfair.net — copyrighted host, internal reading). OffshoreMW LLC is the BOEM ATLW-4 awardee of lease OCS-A 0501 (origination); the seller string names the vehicle sold with its owner, so the chain links the 2015 awardee to CIP. OffshoreMW was renamed Vineyard Wind; Avangrid bought 50% from CIP in May 2017 (next row). Price undisclosed. Written 2026-08-19.

Avangrid Renewables (the US subsidiary of Iberdrola) acquired a 50% stake in Vineyard Wind from Copenhagen Infrastructure Partners (CIP), announced May 9, 2017. CIP had originally acquired the Vineyard Wind developer (then known as OffshoreMW) from Blackstone in August 2016, and was developing the project through its funds CI-II and CI-III. Following the Avangrid entry, Vineyard Wind LLC was held 25% by CI-II, 25% by CI-III, and 50% by Avangrid Renewables — constituting a 50/50 split between CIP funds and Avangrid. Deal consideration was not publicly disclosed; the CEO of Avangrid declined to comment on the terms of the deal. Project was at early development stage — the BOEM Commercial Lease OCS-A 0501 had been awarded in January 2015. At the time of announcement, the project was one of the first large-scale US offshore wind projects to secure a corporate anchor partner. The eventual project is 806 MW (Vineyard Wind 1) with 62x GE Haliade-X 13 MW turbines.

JV restructured — Avangrid (Iberdrola) and CIP formed 50/50 joint venture. CIP later divested position.

Avangrid Renewables and CIP agreed to restructure their joint Vineyard Wind LLC holding entity to separate assets across the broader portfolio. The restructuring was announced September 2021 and closed January 10, 2022. Under the transaction: Avangrid Renewables took 100% ownership of the Park City Wind (804 MW, Connecticut) and Commonwealth Wind (1,232 MW, Massachusetts) offshore wind projects. CIP took 100% of BOEM Lease OCS-A 0522 (an undeveloped lease). The Vineyard Wind 1 (806 MW) project was retained as a 50/50 JV between Avangrid and CIP, unchanged. Avangrid made a net payment of USD 167.5 million to CIP to equalise the asset values exchanged. At USD/EUR 0.85 (2021 announcement), net payment = approximately EUR 142 million. This restructuring was primarily an asset swap / portfolio rationalisation rather than a direct sale of stakes in Vineyard Wind 1. Both partners retain 50% of Vineyard Wind 1. Vineyard Wind 1 achieved financial close (debt) in September 2021, shortly before this restructuring announcement.