Danish fund management company Copenhagen Infrastructure Partners (CIP) has acquired 100% of Offshore MW LLC, a company holding a 166,886-acre offshore wind energy lease south of Martha’s Vineyard in Massachusetts.
The lease was issued by the U.S. Bureau of Ocean Energy Management. The project will be continuously developed by the existing local development team and supported by CIP.
Offshore MW is eligible to participate in the utility tender program established by recently enacted legislation in Massachusetts. According to CIP, the first tender round to obtain a long-term power off-take agreement is expected to take place in mid 2017.
Richard Andre, president of Vineyard Power, a partner of OffshoreMW, says, “We’re very pleased that we’ll now be working with the CIP team. We’ve met with them and know they bring an enormous amount of offshore wind expertise, they have the investment capacity and they appreciate what we have to offer as a local community partner. Together we’ll be able to deliver a great project for the Vineyard and for the entire commonwealth.”
In addition, the name of the project will be Vineyard Wind to reflect the project’s proximity to the island, as well as OffshoreMW’s long-standing ties to Vineyard Power Cooperative.