Avangrid has reached an agreement on the sale of the Kitty Hawk North offshore wind lease area to Dominion Energy.
The sale includes the Kitty Hawk North offshore wind lease area and associated assets, at the sale price of approximately $160 million.
“As Avangrid continues the construction of our nation-leading Vineyard Wind 1 project and the development of our diverse portfolio of offshore and onshore renewable projects, this transaction advances our strategic priorities by providing significant capital infusion for reinvestment,” says Avangrid CEO Pedro Azagra.
“Executing this agreement allows us to move forward with our long-term plans for the development of Kitty Hawk South, further demonstrating our commitment to accelerating the clean energy transition in the United States.”
