Transactions - MAY 23, 2017

Scottish Power wins rights to build two U.S. offshore wind farms

by Jody Barhanovich

Scottish Power has won the right to build two offshore wind farms in the United States. The amount of the winning bid was not disclosed.

The two sites include the 1,500-megawatt Vineyard Wind project, which will span 115 square miles south of Martha’s Vineyard in Massachusetts, and an unnamed project in North Carolina that will generate up to 2,500 megawatts, according to news sources.

“The cost differential between onshore and offshore was so large that a lot of people never thought that America would be interested,” says Keith Anderson, Scottish Power’s chief corporate officer. “But now we’re staring to see the process pick up speed as the cost of offshore wind comes down,” says Anderson.

Vineyard Wind alone will be three times the size of the largest offshore wind project in the United Kingdom. The wind farms are expected to start generating power by 2022 and 2025, respectively. Once generating power, the farms will power approximately 400,000 homes.

Scottish Power now has 30 operational wind farm sites producing more than 1,600 megawatts, according to its website. The firm is also developing offshore wind in Germany and France.

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