Avangrid has closed the sale of the Kitty Hawk North offshore wind lease area to Dominion Energy for $160 million. The area is off Corolla, North Carolina,
The sale price consists of a lease acquisition payment of $117 million and associated development cost reimbursement to Avangrid.
Avangrid is already developing a wind farm in an area adjacent to Kitty Hawk North. Its Kitty Hawk South area could support 2.4GW of offshore wind capacity.
“As we close this sale, focus on delivering on our capital investment plan, and continue the development of Kitty Hawk South, Avangrid is proud of its work to accelerate the clean energy transition in the US,” said Avangrid CEO Pedro Azagra.
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