STATE
Clean Energy Deals in Massachusetts
Every tracked clean energy deal in Massachusetts since 2023 — 11 transactions, 15.3 GW of capacity, $5.00B of disclosed value. Includes M&A, project finance, PPAs, and tax credit transfers. Updated weekly.
11
Tracked Deals
15.3 GW
Total Capacity
$5.00B
Disclosed Value
2023–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| May 20, 2024 | Avangrid — US regulated electric/gas utility (NY/CT/ME/MA… Avangrid public minority shareholders (18.4%) → Iberdrola | 8.0 GW | ~$2.5B (€2.35B) |
| Oct 25, 2023 | Vineyard Wind 1 — 800 MW offshore wind, ~15 miles off Mar… Avangrid + Copenhagen Infrastructure Partners (CIP) JV → J.P. Morgan, Bank of America, Wells Fargo (tax equity) | 800 MW | $1.2B (largest single-asset tax equity ever) |
| Oct 15, 2024 | Form Energy Series F (iron-air battery technology) Form Energy → Multiple (investors) | — | $405M |
| Oct 3, 2023 | Electric Hydrogen — green hydrogen production (PEM electr… Electric Hydrogen (EH2) → Fortescue (lead), Fifth Wall, Energy Impact Partners; bp Ventures, Oman Investment Authority, Temasek, Microsoft Climate Innovation Fund, United Airlines Sustainable Flight Fund | 1.2 GW | $380M (Series C) |
| May 1, 2025 | AES Community Solar Portfolio — ~30 community solar proje… AES Corporation → Multiple (long-term debt facility) | 215 MW | $301M |
| Mar 31, 2026 | Medway Grid Energy Storage System — 250 MW standalone BES… VC Renewables (Vitol) → Advantage Capital | 250 MW | $158,000,000 |
| Jun 30, 2023 | SouthCoast Wind (formerly Mayflower Wind) — 1,200 MW offs… Avangrid + Shell → Massachusetts EDCs | 1.2 GW | $60M termination payment |
| Sep 6, 2024 | SouthCoast Wind — 1,287 MW offshore wind, federal lease a… Ocean Winds (EDP Renewables / ENGIE 50/50) → Massachusetts (1,087 MW share) + Rhode Island (200 MW share) | 1.3 GW | Undisclosed OREC strike |
| Mar 14, 2026 | Vineyard Wind 1 — 800 MW offshore wind, offshore Massachu… Vineyard Wind (Avangrid; Copenhagen Infrastructure Partners) → Massachusetts utilities | 800 MW | — |
| Sep 6, 2024 | Vineyard Wind 2 — 800 MW offshore wind (MA share of 1,200… Avangrid + Vineyard Offshore JV → Massachusetts ratepayers (800 MW share of 1,200 MW project) | 800 MW | Undisclosed OREC strike |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Massachusetts EDCs | 2 | $1.26B |
| 2 | Multiple (investors) | 1 | $405M |
| 3 | Massachusetts utilities | 1 | — |
| 4 | Advantage Capital | 1 | $158M |
| 5 | Multiple (long-term debt facility) | 1 | $301M |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Form Energy | 1 | $405M |
| 2 | Vineyard Wind (Avangrid; Copenhagen Infrastructure Partners) | 1 | — |
| 3 | VC Renewables (Vitol) | 1 | $158M |
| 4 | AES Corporation | 1 | $301M |
| 5 | Avangrid public minority shareholders (18.4%) | 1 | $2.50B |
Top Legal Counsel
| # | Firm | Deals |
|---|---|---|
| 1 | Kirkland & Ellis | 1 |
Technology Mix
Deal Type Mix
- Power Purchase & Offtake4
- Strategic & Growth Capital2
- Tax Equity & Tax Credits2
- Project Finance1
- Corporate Debt & Capital Markets1
Activity by Year
Recent Deals
Latest 10- Medway Grid Energy Storage System — 250 MW standalone BESS, Medway, Massachus…Mar 31, 2026
Tax Equity & Tax Credits · MA · $158,000,000 · 250 MW
- Vineyard Wind 1 — 800 MW offshore wind, offshore Massachusetts (62 turbines)Mar 14, 2026
Project Finance · MA · 800 MW
- AES Community Solar Portfolio — ~30 community solar projects, 215 MW, NY/MA/ILMay 1, 2025
Corporate Debt & Capital Markets · IL, MA, NY · $301M · 215 MW
- Form Energy Series F (iron-air battery technology)Oct 15, 2024
Strategic & Growth Capital · MA · $405M
- SouthCoast Wind — 1,287 MW offshore wind, federal lease area south of Massach…Sep 6, 2024
Power Purchase & Offtake · MA, RI · Undisclosed OREC strike · 1,287 MW
- New England Wind 1 — 791 MW offshore wind, federal lease area OCS-A 0534, ~30…Sep 6, 2024
Power Purchase & Offtake · MA · Undisclosed OREC strike · 791 MW
- Vineyard Wind 2 — 800 MW offshore wind (MA share of 1,200 MW project), federa…Sep 6, 2024
Power Purchase & Offtake · MA · Undisclosed OREC strike · 800 MW
- Avangrid — US regulated electric/gas utility (NY/CT/ME/MA) + offshore wind/on…May 20, 2024
Corporate M&A · CT, MA, ME, NY · ~$2.5B (€2.35B) · 8,000 MW
- Vineyard Wind 1 — 800 MW offshore wind, ~15 miles off Martha's Vineyard, Mass…Oct 25, 2023
Tax Equity & Tax Credits · MA · $1.2B (largest single-asset tax equity ever) · 800 MW
- Electric Hydrogen — green hydrogen production (PEM electrolyzer manufacturing…Oct 3, 2023
Strategic & Growth Capital · MA · $380M (Series C) · 1,200 MW
Recent Moves at Active Firms
All moves →Jennifer Gasser joined as Partner, Energy and Infrastructure M&A at Paul WeissMar 3, 2026
Ricardo Falú promoted to President at AES CorporationMar 2, 2026
Juan Ignacio Rubiolo promoted to EVP, Chief Operating Officer, and President of Energy Infrastructure SBU at AES CorporationMar 2, 2026
Neal Kemkar joined as Chief Network Officer at CeresFeb 9, 2026
Sean Wheeler joined as Partner, Co-Chair Global M&A; Head of Houston Office at Paul WeissFeb 3, 2026
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