The senior debt financing allows the project, a joint venture between Avangrid and Copenhagen Infrastructure Partners, to mobilize its contractors and suppliers to begin work, the companies said. The U.S. government approved Vineyard Wind in May, billing it as the inauguration of a new domestic industry that will help eliminate emissions from the power sector, a critical pillar in President Joe Biden's climate change agenda. "With the signing of these agreements, we now have everything in place to start construction, launching an industry that will immediately start to create jobs and make a significant contribution to meet Massachusetts' carbon pollution reduction targets," Lars Pedersen, chief executive of Vineyard Wind, said in a statement.