VINEYARD WIND SELECTS GE RENEWABLE ENERGY AS PREFERRED TURBINE SUPPLIER FOR AMERICA’S FIRST UTILITY SCALE OFFSHORE WIND PROJECT

Company Decides to Temporarily Pause Federal Permitting Review to Conduct Final Due Diligence; Still Expects Financial Close of Project in 2nd Half of 2021

(NEW BEDFORD, MA) - Vineyard Wind, a joint venture between Avangrid Renewables and Copenhagen Infrastructure Partners (CIP), today announced that the company has selected GE (NYSE: GE) as its preferred supplier of wind turbine generators for its Vineyard Wind 1 project, the first utility-scale offshore wind installation in the United States.


"The selection of GE as our preferred turbine supplier means that a historic American company will play a vital role in the development of the first commercial scale offshore wind power in the U.S.," said Vineyard Wind CEO Lars T. Pedersen. "This is a huge moment not only for the future of our project, but also for the future of an industry that is poised for exponential growth in the coming decades."

Vineyard Wind 1 will be utilizing GE Renewable Energy's industry leading Haliade-X wind turbine generators, the most powerful in operation to date. With this selection, GE Renewable Energy is poised to play a pivotal role in the development of offshore wind power in the U.S., which will be a major source of investments and job creation up and down the supply chain in communities across the region.

"GE Renewable Energy is proud to partner with Vineyard Wind for the first major offshore wind project in the US," said John Lavelle, President & CEO, Offshore Wind at GE Renewable Energy. "To be selected as the preferred supplier is an important sign of confidence for our proven technology and for all our employees around the world. We look forward to making this important contribution to the growth of offshore wind in the US."

As a part of reaching this important milestone, Vineyard Wind has decided to temporarily withdraw its Construction and Operations Plan (COP) from further review by the Bureau of Ocean Energy Management (BOEM) to allow the project team to conduct a final technical review associated with the inclusion of the Haliade-X into the final project design. This information was formally communicated to BOEM earlier today.

"While the decision to pause the ongoing process was difficult, taking this step now avoids potentially more federal delays and we are convinced it will provide the shortest overall timeline for delivering the project as planned," continued Pedersen. "We intend to restart the BOEM process from where we left off as soon as we complete the final review."

The Company expects its review to take several weeks, after which Vineyard Wind will resume the Federal permitting process with BOEM. With buffer built into the project schedule, Vineyard Wind still expects to reach financial close in the second half of 2021 and to begin delivering clean energy to Massachusetts in 2023.

Vineyard Wind 1 is an 800-megawatt (MW) project located 15 miles off the coast of Martha's Vineyard and is slated to become the first large-scale offshore wind farm in the United States. The project will generate cost-competitive electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts and is expected to reduce carbon emissions by more than 1.6 million tons per year.

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About Vineyard Wind

Vineyard Wind LLC is an offshore wind development company seeking to build the first large-scale offshore wind energy project in the U.S., to be located 15 miles south of Martha's Vineyard. Vineyard Wind, based in New Bedford, Massachusetts, is 50 percent owned by funds of Copenhagen Infrastructure Partners (CIP) and 50 percent by Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR). For more information, visit www.vineyardwind.com.

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