Avangrid sells Kitty Hawk North offshore wind lease to Dominion Energy for $160 million.

Avangrid has sold its Kitty Hawk North offshore wind lease area to Dominion Energy for $160 million. The lease covers approximately 40,000 acres at about $3,000 per acre, including a $117 million acquisition payment and development cost reimbursements. Avangrid retains the Kitty Hawk South lease area, which has a potential capacity of 2.4 GW and will continue its development for North Carolina, Virginia, or other entities.

October 28, 2024
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