Vineyard Wind

Name

Vineyard Wind

Legal name

Vineyard Wind LLC

Website

https://vineyardwind.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Offshore Wind Energy Generation

NAICS

Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211)

SIC

Motors & Generators (3621)

akta.pro primary industry

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)

akta.pro secondary industries

Offshore Wind Power Generation (Floating) (EUACAFAC), Wind Operations, Maintenance & Asset Management (Scheduled/Unscheduled) (EUAMACAH)

Keywords

• Offshore wind energy
• Wind farm development
• Renewable power generation
• Utility-scale wind
• Marine energy infrastructure

Headquarters

HQ city

New Bedford

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Technology or R&D, Personnel

Revenue model

1. Electricity Sales via Power Purchase Agreements: Vineyard Wind generates revenue through long-term fixed-rate power purchase agreements (PPAs) with Massachusetts utility companies. The 20-year contracts lock in pricing at an average of $69.50/MWh with 2.5% annual increases. The project delivers electricity directly to the New England grid.
2. Offshore Wind Energy Generation: As an operating offshore wind farm, revenue is generated from the sale of electricity produced by 62 GE Haliade-X turbines with combined capacity of 806 MW. The project supplies approximately 7% of Massachusetts' annual electricity needs.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Vineyard Wind operates America's first commercial-scale offshore wind farm (Vineyard Wind 1), an 806-megawatt project consisting of 62 GE Haliade-X 13 MW turbines located approximately 15 miles south of Martha's Vineyard, Massachusetts. The company sells electricity generated from this wind farm to Massachusetts utility companies under 20-year fixed-rate power purchase agreements at an average of $69.50 per megawatt-hour, supplying approximately 7% of Massachusetts' annual electricity needs.

Product overview

Vineyard Wind is an offshore wind energy company operating the nation's first commercial-scale offshore wind farm, Vineyard Wind 1, an 806-megawatt project comprising 62 GE Haliade-X turbines located 15 miles off the coast of Martha's Vineyard. The company provides utility-scale clean power generation and delivery to Massachusetts utilities under 20-year power purchase agreements. Core operations include the wind farm itself, with supporting services including operations and maintenance facilities on Martha's Vineyard and a fisheries compensatory mitigation program administered by a third party to compensate commercial fishermen. The project is a joint venture between Avangrid (50%) and Copenhagen Infrastructure Partners (50%).

Differentiator

Problem solved

Functional benefit

Products and services

• Vineyard Wind 1 America's first utility-scale offshore wind farm, an 806-megawatt project located 15 miles south of Martha's Vineyard, Massachusetts, featuring 62 GE Haliade-X 13 MW turbines capable of powering approximately 400,000 homes and businesses. Electricity is delivered to Massachusetts utilities under 20-year power purchase agreements.
• Operations and Maintenance Services Comprehensive O&M services for the offshore wind farm including technician support, helicopter operations, crew transfer vessel support, and health/safety/environmental management, based at the Tisbury Marine Terminal on Martha's Vineyard.
• Vineyard Wind 1 Fisheries Compensatory Mitigation Program Third-party administered compensation program providing fair, equitable payments to commercial fishermen for economic impacts attributable to the project's construction, operations, and decommissioning activities across Connecticut, Massachusetts, Rhode Island, New Jersey, and New York.

Quantifiable outcome

• $1.4 billion in electricity bill savings for Massachusetts customers over 20 years
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

14 partnerships are on record, tiered core, major and minor.

• GE VernovacoreTechnology or IntegrationTurbine supplier for 62 Haliade-X 13 MW turbines in $4.5 billion project. Currently in legal dispute with Vineyard Wind over blade failure costs ($545M claimed by Vineyard) and unpaid invoices ($360M claimed by GE). Manufacturing defect identified at Gaspé, Canada facility caused July 2024 blade collapse. CEO: Roger Martella (Chief Sustainability Officer).
• Jan De Nul Group with JDR Cable Systems (TFKable Group)majorTechnology or IntegrationSelected to supply and install approximately 130 miles of 66kV inter-array cables connecting 62 turbines. Created approximately 40 new full-time US jobs in training and installation. JDR Cable Systems provides engineering excellence and cable manufacturing.
• DEME Group (vessel ORION)majorTechnology or IntegrationOperates heavy lift vessel ORION for monopile and transition piece installation. Utilizes local union piledrivers with special training for offshore wind installation work. SID Florey, President DEME Offshore US.
• LinxonmajorTechnology or IntegrationSelected to construct onshore substation for the project, responsible for grid connection infrastructure.
• Greentown LabsminorStrategic or Co-development PartnerPartnership to support offshore wind innovation. Launched Offshore Wind Challenge to accelerate technologies protecting marine life, including marine mammal monitoring, data collection, and real-time transmission.
• Natural Resources Defense Council, National Wildlife Federation, Conservation Law FoundationmajorStrategic or Co-development PartnerHistoric agreement signed January 2019 to protect critically endangered North Atlantic Right Whales. Commitments include construction curtailment during migration, comprehensive monitoring, noise dampening, vessel speed limits, and $3M investment in marine mammal protection technologies.
• University of New HampshireminorStrategic or Co-development PartnerPartnership for acoustic monitoring for marine mammals as part of environmental protection measures.
• de maximis, inc.majorImplementation/ SI/ Consulting PartnerIndependent third-party administrator for the $15 million Fisheries Compensatory Mitigation Program. Administers compensation payments to commercial fishermen in CT, MA, NJ, NY, and RI for economic impacts from project activities.
• Massachusetts Clean Energy Center (MassCEC)majorStrategic or Co-development PartnerVineyard Wind proposed MassCEC manage the $10 million Offshore Wind Industry Accelerator Fund to guide investment decisions for supply chain and infrastructure development in Massachusetts.
• New Bedford Ocean Cluster (NBOC)majorStrategic or Co-development Partner501(c)(3) non-profit partnership to maximize positive economic impacts through Act Local program. Facilitates matchmaking between local businesses and offshore wind opportunities via NBOC Portal. President: John Bullard.
• XodusminorImplementation/ SI/ Consulting PartnerGlobal energy consultancy facilitating the Act Local program with streamlined matchmaking system for local business participation in offshore wind industry.
• Resolve MarinemajorTechnology or IntegrationWorld-leading salvage company engaged for blade removal operation following July 2024 turbine blade failure. Executed controlled cutting activities and debris recovery operations.
• Southeastern Massachusetts Building Trades CouncilcoreChannel Partner/ Reseller/ DistributorHistoric project labor agreement signed July 2021 for first industrial-scale offshore wind project in US. Creates approximately 500 family-sustaining union jobs. $500,000 allocated for pre-apprenticeship and recruitment programs including Building Pathways South. President: Frank Callahan.
• Geoquip MarinemajorTechnology or IntegrationPartner for geotechnical surveys of the lease area. Vessel GEOQUIP SAENTIS deployed from New Bedford for site surveys providing necessary data for project design. CEO: Stewart Higginson.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Ørsted: Global leader in offshore wind development with multiple US projects (South Fork Wind, Revolution Wind, Sunrise Wind). Directly comparable as a utility-scale offshore wind farm owner/operator selling power under PPAs to Northeast US utilities, and a key technology and supply chain benchmark for Vineyard Wind's GE Haliade-X deployment.
• Iberdrola: Spanish multinational utility and ultimate parent of Avangrid, Vineyard Wind's 50% owner. Comparable as a global offshore wind developer-operator with extensive European portfolio and US presence, providing strategic capital, project development, and operational expertise to Vineyard Wind.
• Eversource Energy: One of three Massachusetts utility off-takers under Vineyard Wind's PPAs and a partner in multiple Ørsted offshore wind projects. Comparable as a regulated New England utility committing to long-term offshore wind procurement, representing both a customer and a strategic counterparty for Vineyard Wind.

Direct peers

• Equinor: Norwegian energy major developing Empire Wind (NY) and multiple other US offshore wind leases. Directly comparable as a global integrated energy company scaling utility-scale offshore wind in the same US Northeast markets as Vineyard Wind, with similar PPA structures and supply chain dependencies.
• Copenhagen Infrastructure Partners: 50% parent of Vineyard Wind LLC and one of the world's largest dedicated green energy investment managers. Directly comparable as the institutional capital partner underwriting Vineyard Wind's growth, with a portfolio of offshore wind projects across the US, Europe, and Asia-Pacific.
• Coastal Virginia Offshore Wind (Dominion Energy): Dominion Energy's 2.6 GW Coastal Virginia Offshore Wind project is the leading US offshore wind farm after Vineyard Wind, with the first turbines commissioned in late 2024. Directly comparable as a regulated-utility-owned offshore wind farm delivering clean energy under state procurement mandates on the US East Coast.
• Atlantic Shores Offshore Wind: Joint venture between Shell and EDF Renewables developing offshore wind projects off New Jersey. Directly comparable as a developer of utility-scale offshore wind in the same regional lease areas and target market as Vineyard Wind, navigating similar federal permitting and OEM supply chain dynamics.
• Avangrid Renewables: 50% parent of Vineyard Wind LLC and the US renewable energy arm of Iberdrola. Directly comparable as a US utility-scale renewable energy developer with onshore wind and solar assets, sharing operational, financing, and regulatory infrastructure with Vineyard Wind's offshore operations.

Emerging players

• Mayflower Wind: Shell-acquired offshore wind developer with Massachusetts lease area rights. Comparable as a competing offshore wind project in the same Massachusetts market pursuing similar utility PPAs and federal lease area authorization pathways as Vineyard Wind 1.

Others

• GE Vernova: Supplier of the 62 Haliade-X 13 MW turbines at the heart of Vineyard Wind 1 and currently the counterparty in a $545M damages lawsuit. Comparable as the dominant Western offshore wind OEM whose technology choices, manufacturing reliability, and warranty terms directly determine Vineyard Wind's operational and financial outcomes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/VineyardWindUS

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vineyard Wind