Copenhagen Infrastructure Partners, Avangrid Announce $1.2B Capital Raised For Vinyard Wind 1
Portfolio Pulse from Benzinga Newsdesk
Copenhagen Infrastructure Partners (CIP) and Avangrid, Inc. (NYSE:AGR) have announced a $1.2 billion tax equity package for the Vineyard Wind 1 project, marking the largest single asset tax equity financing and the first for a commercial scale offshore wind project. The investment was made by J.P. Morgan Chase, Bank of America, and Wells Fargo.
October 25, 2023 | 6:04 pm
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Avangrid's Vineyard Wind 1 project secures a $1.2 billion investment, marking a significant milestone for commercial scale offshore wind projects.
The $1.2 billion investment in Avangrid's Vineyard Wind 1 project is a significant milestone, marking the largest single asset tax equity financing and the first for a commercial scale offshore wind project. This could potentially boost investor confidence in the company and its projects, leading to a positive impact on its stock price in the short term.
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