Vineyard Wind raises $2.3B to finance first major US offshore wind farm

[Gunnar Larson]

Developers of the 800-MW Vineyard Offshore Wind Project said Sept. 15 that
they closed on $2.3 billion in senior debt from nine banks, allowing for
construction to begin on the first commercial-scale offshore wind farm
approved in the United States.

U.S. institutions Bank of America Corp. and JPMorgan Chase & Co. put up
funds, as well as Banco Santander SA subsidiary Santander Bank NA and Banco
Bilbao Vizcaya Argentaria SA, both of Spain. Scottish bank NatWest Group
PLC got in on the deal; it is majority owned by the Economics and Finance
Ministry of the United Kingdom, HM Treasury. Three French banks — Crédit
Agricole Group subsidiary Crédit Agricole SA, Groupe BPCE subsidiary
Natixis SA and BNP Paribas SA — are also lenders.

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/vineyard-wind-raises-2-3b-to-finance-first-major-us-offshore-wind-farm-66615428

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JPMorgan Chase served as Joint Lead Arranger for more than $2 billion in
financing for the 800 megawatt Vineyard Wind project, the first offshore
wind farm in the United States capable of generating power at utility scale
and the country’s largest source of offshore wind power. The project is
expected to supply enough energy to serve the needs of 400,000
Massachusetts households and businesses and avoid 1.68 million metric tons
of carbon emissions annually.

https://www.jpmorganchase.com/ir/news/2022/jpmc-releases-2021-esg-report
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