Avangrid

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Transcript: Inside America’s biggest off-shore wind farm

Dennis Arriola
CEO
Avangrid

There's a lot of discussion these days about the energy transition from fossil fuels to cleaner energy. And the United States, candidly, is a little bit behind the times. 

Avangrid is in the process of building the first major offshore wind project in the United States.

Vineyard Wind is miles off the coast of Martha’s Vineyard in an area that most people consider one of the best wind areas in the world. 

Vineyard Wind will be producing enough energy to power over 400,000 homes a year. It'll be reducing carbon emissions by 1.6 million tons per year, which is equivalent to about 325,000 cars coming off of the road.

It’s expected to generate thousands of jobs and we'll be adding more than a billion dollars to the local economy. 

With onshore wind and solar, we’re in 24 different states today.

Kara Price
Managing Director
Wells Fargo Corporate & Investment Banking

It's very fulfilling to be working with the folks who are changing the world every day.

Wells Fargo's goal is net zero emissions by 2050, including the projects we finance. It's part of the bank's commitment to invest $500 billion in sustainable finance by 2030.

Andrew Kho
Managing Director
Wells Fargo Commercial Banking

In the last 10 years, Wells Fargo's invested more than $10 billion in projects like you see here today, large-scale wind farms and solar plants all across the United States.

John Hackney
Managing Director
Wells Fargo Corporate & Investment Banking

In addition to providing tax equity to Avangrid, we've also raised over two billion dollars in the capital markets over the last five years.

Back to Dennis

Avangrid’s had a very successful relationship with Wells Fargo over the last couple of decades. Energy companies have their challenges, and it's really important for us to do business with a financial institution that's going to be there in the good times and the challenging times.

Energy is the lifeline of our country. We can't continue to utilize fossil fuels. We need more renewable energy.

Everybody wants to make a difference in this world. To know that we’re helping to address maybe the biggest challenge we have makes you feel good.