Laura Beane Interview: Extra Insights

A Word About Wind talks to Laura Beane of Avangrid Renewables about the changing situation for offshore wind in the US.

Topics
No items found.
Richard Heap
October 20, 2017
This content is from our archive. Some formatting or links may be broken.
This content is from our archive. Some formatting or links may be broken.
Laura Beane Interview: Extra Insights

As part of our latest Finance Quarterly, A Word About Wind interviewed Laura Beane, CEO of Avangrid Renewables. Here are some additional insights from her conversation with us. If you'd like to read the full interview, it's included in our complimentary ebook, 5 Lessons on the North American Wind Market, downloadable here.

Over the decades we have seen plenty of people looking to make it in America. Musicians, actors, businesspeople… hey, even our client services director Matt Rollason has moved to Texas this month to develop our North American operation.

Increasingly, businesses in the offshore wind supply chain are eyeing the US and asking if the time is right to set up in the States. In the last two years, we have seen firms such as Copenhagen Infrastructure Partners, Iberdrola, Ørsted (formerly Dong Energy), RES and Statoil making the leap across the Atlantic Ocean to start developing projects in US waters.

This is where A Word About Wind can help. Through our programme of special reports and networking events, we bring our 2,500-strong community of wind energy professionals the latest insights from those making investment decisions in these markets. For example, we help our members understand how fast to expect the industry to grow and which businesses are best-placed to prosper.

It is with this mission in mind that we spoke to Laura Beane, CEO of Spanish giant Iberdrola’s US arm Avangrid Renewables, for a profile in this month’s Finance Quarterly.

Screen Shot 2017-10-20 at 10.07.03-1.png

Head-to-head in the water

Avangrid Renewables is working on two early-stage offshore wind projects in US waters that have potential for a combined capacity of up to 2.5GW.

This week, the US Bureau of Ocean Energy Management confirmed that Avangrid’s lease of the 122,405-acre Kitty Hawk zone in waters off North Carolina would come into effect on 1st November. Avangrid won the right to develop up to 1.5GW offshore wind farms in the zone in March after securing the lease for just over $9m, ahead of Statoil, Wind Future and WPD. Beane said the confirmation means the firm can start detailed technical work on Kitty Hawk.

The company is also working on the 1GW Vineyard Wind project in waters off the coast of Massachusetts in a 50:50 joint venture with Copenhagen Infrastructure Partners. Avangrid Renewables bought a 50% stake in the development in May. The next step for this project is to bid for support from the state of Massachusetts in a ‘request for proposals’ where bids are due by the end of 2017, and a decision is expected next spring.

Beane told us in Finance Quarterly that Vineyard could be completed by 2022 but that Kitty Hawk is due in the late 2020s. This is because the two states are developing their offshore wind policies and support schemes at different speeds. Firms looking to get a slice of the US offshore wind action must be aware of the huge differences between states.

Even so, Beane is philosophical about the timescales: “These things take time. They are hugely capital-intensive, there is a lot of work that has to happen, and offshore wind is so new in the US,” she says. Deepwater Wind’s 30MW Block Island is the only project that has been completed in US waters thus far, and there are no others currently in construction.

Developing the supply chain

Beane says that the industry “has to be started from scratch in the US” and this would need a big effort from firms throughout the supply chain. Businesses that are seeking to make an impact in the nascent US offshore wind market will also have to grapple with the provisions in the Jones Act, which says that goods shipped between US ports must be carried on ships built, flagged and crewed in the US. The US does not have ships specialised in transporting and installing offshore wind turbines, and so this does threaten to create barriers.

However, the industry has been working on solutions and so these problems need not be insurmountable. Rather, we can see this as just another challenge for US offshore wind to overcome.

Beane says she is seeing a reduction in the industry’s scepticism towards US offshore wind. She told us: “For many years, I think people were really sceptical about offshore wind in the States, because we have so much land and there’s so much land left with high capacity factors.”

But, for cities like New York and Boston, building offshore wind farms could be easier than doing so onshore: “In these northeast markets all of a sudden it’s making sense. You’ve got all of these huge load centres. They have a lot of demand, they’re growing, and they’ve got renewable targets and they do not have enough land, physically, to put the assets that they would need,” she says. As a result, there is huge potential for offshore wind in the US.

For businesses looking to take advantage of that potential, it is vital to stay informed – and this is where we can help. A Word About Wind regularly features the industry’s top names in our reports and at our events, which can give you the insights you need to stay ahead.

As part of our latest Finance Quarterly, A Word About Wind interviewed Laura Beane, CEO of Avangrid Renewables. Here are some additional insights from her conversation with us. If you'd like to read the full interview, it's included in our complimentary ebook, 5 Lessons on the North American Wind Market, downloadable here.

Over the decades we have seen plenty of people looking to make it in America. Musicians, actors, businesspeople… hey, even our client services director Matt Rollason has moved to Texas this month to develop our North American operation.

Increasingly, businesses in the offshore wind supply chain are eyeing the US and asking if the time is right to set up in the States. In the last two years, we have seen firms such as Copenhagen Infrastructure Partners, Iberdrola, Ørsted (formerly Dong Energy), RES and Statoil making the leap across the Atlantic Ocean to start developing projects in US waters.

This is where A Word About Wind can help. Through our programme of special reports and networking events, we bring our 2,500-strong community of wind energy professionals the latest insights from those making investment decisions in these markets. For example, we help our members understand how fast to expect the industry to grow and which businesses are best-placed to prosper.

It is with this mission in mind that we spoke to Laura Beane, CEO of Spanish giant Iberdrola’s US arm Avangrid Renewables, for a profile in this month’s Finance Quarterly.

Screen Shot 2017-10-20 at 10.07.03-1.png

Head-to-head in the water

Avangrid Renewables is working on two early-stage offshore wind projects in US waters that have potential for a combined capacity of up to 2.5GW.

This week, the US Bureau of Ocean Energy Management confirmed that Avangrid’s lease of the 122,405-acre Kitty Hawk zone in waters off North Carolina would come into effect on 1st November. Avangrid won the right to develop up to 1.5GW offshore wind farms in the zone in March after securing the lease for just over $9m, ahead of Statoil, Wind Future and WPD. Beane said the confirmation means the firm can start detailed technical work on Kitty Hawk.

The company is also working on the 1GW Vineyard Wind project in waters off the coast of Massachusetts in a 50:50 joint venture with Copenhagen Infrastructure Partners. Avangrid Renewables bought a 50% stake in the development in May. The next step for this project is to bid for support from the state of Massachusetts in a ‘request for proposals’ where bids are due by the end of 2017, and a decision is expected next spring.

Beane told us in Finance Quarterly that Vineyard could be completed by 2022 but that Kitty Hawk is due in the late 2020s. This is because the two states are developing their offshore wind policies and support schemes at different speeds. Firms looking to get a slice of the US offshore wind action must be aware of the huge differences between states.

Even so, Beane is philosophical about the timescales: “These things take time. They are hugely capital-intensive, there is a lot of work that has to happen, and offshore wind is so new in the US,” she says. Deepwater Wind’s 30MW Block Island is the only project that has been completed in US waters thus far, and there are no others currently in construction.

Developing the supply chain

Beane says that the industry “has to be started from scratch in the US” and this would need a big effort from firms throughout the supply chain. Businesses that are seeking to make an impact in the nascent US offshore wind market will also have to grapple with the provisions in the Jones Act, which says that goods shipped between US ports must be carried on ships built, flagged and crewed in the US. The US does not have ships specialised in transporting and installing offshore wind turbines, and so this does threaten to create barriers.

However, the industry has been working on solutions and so these problems need not be insurmountable. Rather, we can see this as just another challenge for US offshore wind to overcome.

Beane says she is seeing a reduction in the industry’s scepticism towards US offshore wind. She told us: “For many years, I think people were really sceptical about offshore wind in the States, because we have so much land and there’s so much land left with high capacity factors.”

But, for cities like New York and Boston, building offshore wind farms could be easier than doing so onshore: “In these northeast markets all of a sudden it’s making sense. You’ve got all of these huge load centres. They have a lot of demand, they’re growing, and they’ve got renewable targets and they do not have enough land, physically, to put the assets that they would need,” she says. As a result, there is huge potential for offshore wind in the US.

For businesses looking to take advantage of that potential, it is vital to stay informed – and this is where we can help. A Word About Wind regularly features the industry’s top names in our reports and at our events, which can give you the insights you need to stay ahead.

As part of our latest Finance Quarterly, A Word About Wind interviewed Laura Beane, CEO of Avangrid Renewables. Here are some additional insights from her conversation with us. If you'd like to read the full interview, it's included in our complimentary ebook, 5 Lessons on the North American Wind Market, downloadable here.

Over the decades we have seen plenty of people looking to make it in America. Musicians, actors, businesspeople… hey, even our client services director Matt Rollason has moved to Texas this month to develop our North American operation.

Increasingly, businesses in the offshore wind supply chain are eyeing the US and asking if the time is right to set up in the States. In the last two years, we have seen firms such as Copenhagen Infrastructure Partners, Iberdrola, Ørsted (formerly Dong Energy), RES and Statoil making the leap across the Atlantic Ocean to start developing projects in US waters.

This is where A Word About Wind can help. Through our programme of special reports and networking events, we bring our 2,500-strong community of wind energy professionals the latest insights from those making investment decisions in these markets. For example, we help our members understand how fast to expect the industry to grow and which businesses are best-placed to prosper.

It is with this mission in mind that we spoke to Laura Beane, CEO of Spanish giant Iberdrola’s US arm Avangrid Renewables, for a profile in this month’s Finance Quarterly.

Screen Shot 2017-10-20 at 10.07.03-1.png

Head-to-head in the water

Avangrid Renewables is working on two early-stage offshore wind projects in US waters that have potential for a combined capacity of up to 2.5GW.

This week, the US Bureau of Ocean Energy Management confirmed that Avangrid’s lease of the 122,405-acre Kitty Hawk zone in waters off North Carolina would come into effect on 1st November. Avangrid won the right to develop up to 1.5GW offshore wind farms in the zone in March after securing the lease for just over $9m, ahead of Statoil, Wind Future and WPD. Beane said the confirmation means the firm can start detailed technical work on Kitty Hawk.

The company is also working on the 1GW Vineyard Wind project in waters off the coast of Massachusetts in a 50:50 joint venture with Copenhagen Infrastructure Partners. Avangrid Renewables bought a 50% stake in the development in May. The next step for this project is to bid for support from the state of Massachusetts in a ‘request for proposals’ where bids are due by the end of 2017, and a decision is expected next spring.

Beane told us in Finance Quarterly that Vineyard could be completed by 2022 but that Kitty Hawk is due in the late 2020s. This is because the two states are developing their offshore wind policies and support schemes at different speeds. Firms looking to get a slice of the US offshore wind action must be aware of the huge differences between states.

Even so, Beane is philosophical about the timescales: “These things take time. They are hugely capital-intensive, there is a lot of work that has to happen, and offshore wind is so new in the US,” she says. Deepwater Wind’s 30MW Block Island is the only project that has been completed in US waters thus far, and there are no others currently in construction.

Developing the supply chain

Beane says that the industry “has to be started from scratch in the US” and this would need a big effort from firms throughout the supply chain. Businesses that are seeking to make an impact in the nascent US offshore wind market will also have to grapple with the provisions in the Jones Act, which says that goods shipped between US ports must be carried on ships built, flagged and crewed in the US. The US does not have ships specialised in transporting and installing offshore wind turbines, and so this does threaten to create barriers.

However, the industry has been working on solutions and so these problems need not be insurmountable. Rather, we can see this as just another challenge for US offshore wind to overcome.

Beane says she is seeing a reduction in the industry’s scepticism towards US offshore wind. She told us: “For many years, I think people were really sceptical about offshore wind in the States, because we have so much land and there’s so much land left with high capacity factors.”

But, for cities like New York and Boston, building offshore wind farms could be easier than doing so onshore: “In these northeast markets all of a sudden it’s making sense. You’ve got all of these huge load centres. They have a lot of demand, they’re growing, and they’ve got renewable targets and they do not have enough land, physically, to put the assets that they would need,” she says. As a result, there is huge potential for offshore wind in the US.

For businesses looking to take advantage of that potential, it is vital to stay informed – and this is where we can help. A Word About Wind regularly features the industry’s top names in our reports and at our events, which can give you the insights you need to stay ahead.

As part of our latest Finance Quarterly, A Word About Wind interviewed Laura Beane, CEO of Avangrid Renewables. Here are some additional insights from her conversation with us. If you'd like to read the full interview, it's included in our complimentary ebook, 5 Lessons on the North American Wind Market, downloadable here.

Over the decades we have seen plenty of people looking to make it in America. Musicians, actors, businesspeople… hey, even our client services director Matt Rollason has moved to Texas this month to develop our North American operation.

Increasingly, businesses in the offshore wind supply chain are eyeing the US and asking if the time is right to set up in the States. In the last two years, we have seen firms such as Copenhagen Infrastructure Partners, Iberdrola, Ørsted (formerly Dong Energy), RES and Statoil making the leap across the Atlantic Ocean to start developing projects in US waters.

This is where A Word About Wind can help. Through our programme of special reports and networking events, we bring our 2,500-strong community of wind energy professionals the latest insights from those making investment decisions in these markets. For example, we help our members understand how fast to expect the industry to grow and which businesses are best-placed to prosper.

It is with this mission in mind that we spoke to Laura Beane, CEO of Spanish giant Iberdrola’s US arm Avangrid Renewables, for a profile in this month’s Finance Quarterly.

Screen Shot 2017-10-20 at 10.07.03-1.png

Head-to-head in the water

Avangrid Renewables is working on two early-stage offshore wind projects in US waters that have potential for a combined capacity of up to 2.5GW.

This week, the US Bureau of Ocean Energy Management confirmed that Avangrid’s lease of the 122,405-acre Kitty Hawk zone in waters off North Carolina would come into effect on 1st November. Avangrid won the right to develop up to 1.5GW offshore wind farms in the zone in March after securing the lease for just over $9m, ahead of Statoil, Wind Future and WPD. Beane said the confirmation means the firm can start detailed technical work on Kitty Hawk.

The company is also working on the 1GW Vineyard Wind project in waters off the coast of Massachusetts in a 50:50 joint venture with Copenhagen Infrastructure Partners. Avangrid Renewables bought a 50% stake in the development in May. The next step for this project is to bid for support from the state of Massachusetts in a ‘request for proposals’ where bids are due by the end of 2017, and a decision is expected next spring.

Beane told us in Finance Quarterly that Vineyard could be completed by 2022 but that Kitty Hawk is due in the late 2020s. This is because the two states are developing their offshore wind policies and support schemes at different speeds. Firms looking to get a slice of the US offshore wind action must be aware of the huge differences between states.

Even so, Beane is philosophical about the timescales: “These things take time. They are hugely capital-intensive, there is a lot of work that has to happen, and offshore wind is so new in the US,” she says. Deepwater Wind’s 30MW Block Island is the only project that has been completed in US waters thus far, and there are no others currently in construction.

Developing the supply chain

Beane says that the industry “has to be started from scratch in the US” and this would need a big effort from firms throughout the supply chain. Businesses that are seeking to make an impact in the nascent US offshore wind market will also have to grapple with the provisions in the Jones Act, which says that goods shipped between US ports must be carried on ships built, flagged and crewed in the US. The US does not have ships specialised in transporting and installing offshore wind turbines, and so this does threaten to create barriers.

However, the industry has been working on solutions and so these problems need not be insurmountable. Rather, we can see this as just another challenge for US offshore wind to overcome.

Beane says she is seeing a reduction in the industry’s scepticism towards US offshore wind. She told us: “For many years, I think people were really sceptical about offshore wind in the States, because we have so much land and there’s so much land left with high capacity factors.”

But, for cities like New York and Boston, building offshore wind farms could be easier than doing so onshore: “In these northeast markets all of a sudden it’s making sense. You’ve got all of these huge load centres. They have a lot of demand, they’re growing, and they’ve got renewable targets and they do not have enough land, physically, to put the assets that they would need,” she says. As a result, there is huge potential for offshore wind in the US.

For businesses looking to take advantage of that potential, it is vital to stay informed – and this is where we can help. A Word About Wind regularly features the industry’s top names in our reports and at our events, which can give you the insights you need to stay ahead.

As part of our latest Finance Quarterly, A Word About Wind interviewed Laura Beane, CEO of Avangrid Renewables. Here are some additional insights from her conversation with us. If you'd like to read the full interview, it's included in our complimentary ebook, 5 Lessons on the North American Wind Market, downloadable here.

Over the decades we have seen plenty of people looking to make it in America. Musicians, actors, businesspeople… hey, even our client services director Matt Rollason has moved to Texas this month to develop our North American operation.

Increasingly, businesses in the offshore wind supply chain are eyeing the US and asking if the time is right to set up in the States. In the last two years, we have seen firms such as Copenhagen Infrastructure Partners, Iberdrola, Ørsted (formerly Dong Energy), RES and Statoil making the leap across the Atlantic Ocean to start developing projects in US waters.

This is where A Word About Wind can help. Through our programme of special reports and networking events, we bring our 2,500-strong community of wind energy professionals the latest insights from those making investment decisions in these markets. For example, we help our members understand how fast to expect the industry to grow and which businesses are best-placed to prosper.

It is with this mission in mind that we spoke to Laura Beane, CEO of Spanish giant Iberdrola’s US arm Avangrid Renewables, for a profile in this month’s Finance Quarterly.

Screen Shot 2017-10-20 at 10.07.03-1.png

Head-to-head in the water

Avangrid Renewables is working on two early-stage offshore wind projects in US waters that have potential for a combined capacity of up to 2.5GW.

This week, the US Bureau of Ocean Energy Management confirmed that Avangrid’s lease of the 122,405-acre Kitty Hawk zone in waters off North Carolina would come into effect on 1st November. Avangrid won the right to develop up to 1.5GW offshore wind farms in the zone in March after securing the lease for just over $9m, ahead of Statoil, Wind Future and WPD. Beane said the confirmation means the firm can start detailed technical work on Kitty Hawk.

The company is also working on the 1GW Vineyard Wind project in waters off the coast of Massachusetts in a 50:50 joint venture with Copenhagen Infrastructure Partners. Avangrid Renewables bought a 50% stake in the development in May. The next step for this project is to bid for support from the state of Massachusetts in a ‘request for proposals’ where bids are due by the end of 2017, and a decision is expected next spring.

Beane told us in Finance Quarterly that Vineyard could be completed by 2022 but that Kitty Hawk is due in the late 2020s. This is because the two states are developing their offshore wind policies and support schemes at different speeds. Firms looking to get a slice of the US offshore wind action must be aware of the huge differences between states.

Even so, Beane is philosophical about the timescales: “These things take time. They are hugely capital-intensive, there is a lot of work that has to happen, and offshore wind is so new in the US,” she says. Deepwater Wind’s 30MW Block Island is the only project that has been completed in US waters thus far, and there are no others currently in construction.

Developing the supply chain

Beane says that the industry “has to be started from scratch in the US” and this would need a big effort from firms throughout the supply chain. Businesses that are seeking to make an impact in the nascent US offshore wind market will also have to grapple with the provisions in the Jones Act, which says that goods shipped between US ports must be carried on ships built, flagged and crewed in the US. The US does not have ships specialised in transporting and installing offshore wind turbines, and so this does threaten to create barriers.

However, the industry has been working on solutions and so these problems need not be insurmountable. Rather, we can see this as just another challenge for US offshore wind to overcome.

Beane says she is seeing a reduction in the industry’s scepticism towards US offshore wind. She told us: “For many years, I think people were really sceptical about offshore wind in the States, because we have so much land and there’s so much land left with high capacity factors.”

But, for cities like New York and Boston, building offshore wind farms could be easier than doing so onshore: “In these northeast markets all of a sudden it’s making sense. You’ve got all of these huge load centres. They have a lot of demand, they’re growing, and they’ve got renewable targets and they do not have enough land, physically, to put the assets that they would need,” she says. As a result, there is huge potential for offshore wind in the US.

For businesses looking to take advantage of that potential, it is vital to stay informed – and this is where we can help. A Word About Wind regularly features the industry’s top names in our reports and at our events, which can give you the insights you need to stay ahead.

Full archive access is available to members only

Not a member yet?

Become a member of the 6,500-strong A Word About Wind community today, and gain access to our premium content, exclusive lead generation and investment opportunities.

Full archive access is available to members only

Not a member yet?

Become a member of the 6,500-strong A Word About Wind community today, and gain access to our premium content, exclusive lead generation and investment opportunities.