CBRE said Sept. 17 that it arranged the acquisition of an aging brownfield site of a former oil-fired power plant in South Amboy by Rise Light & Power, the Queens, N.Y.-based subsidiary of LS Power, for construction of the Outerbridge Renewable Connector, an innovative new project that will deliver clean, cost-effective offshore wind energy to homes and businesses across New Jersey and the region.
The new Outerbridge Renewable Connector Project will help the state achieve its goal of providing 7,500 megawatts of offshore wind energy by 2035, and 100% clean energy by 2050.
Jeff Dunne and Jeremy Neuer of CBRE led the site evaluation and arranged the acquisition of the 50-acre property on behalf of Rise Light & Power. The sales price was not disclosed.
Upon completion, the project could power up to 1.4 million homes in New Jersey and invest more than $1 billion into the state, increasing local tax revenue and creating good-paying jobs.
“We are thrilled to play a part in what will be an amazingly impactful development within the Garden State,” said CBRE’s Jeff Dunne. “The Outerbridge Renewable Connector will have a positive imprint on our community and environment for decades to come and we couldn’t be happier to have a role in assisting Rise Light & Power on this important project.”
Jersey Central Power & Light Co.’s former E.H. Werner oil-fired power station was retired in 2015, fully demolished and the site has been fully remediated. The property’s existing substation and switchyard, rail and highway access, pier with expansion potential and unobstructed access to the Atlantic Ocean were particularly attractive to Rise Light & Power in its site selection.
The industrially zoned property is already connected to the New Jersey electric market while new and upgraded underground infrastructure will connect the facility to the Deans substation in Middlesex County.
“We are proud to announce our proposal to build new clean energy projects and establish South Amboy as a modern, green energy hub in New Jersey,” said Clint Plummer, chief executive officer of Rise Light & Power. “Offshore wind is one of the most powerful tools we have to build a clean energy future. However, the region lacks the infrastructure to successfully bring it onshore and deliver it cost-effectively.
“By transforming a local, aging facility and connecting it to high-power offshore wind farms, the Outerbridge Renewable Connector will help the region achieve its clean energy targets in a way that brings significant good-paying jobs and economic benefits,” Plummer said. “We are proud to help pave the path to a greener, cleaner future, and we look forward to working with stakeholders in South Amboy and across New Jersey to achieve this goal.”