At the Business Network for Offshore Wind’s International Partnering Forum in Atlantic City, Gov. Phil Murphy announced during his April 28 Keynote Address that the New Jersey Economic Development Authority signed a Letter of Intent with Ørsted Offshore North America to marshal the state’s first offshore wind project, Ocean Wind 1. The partnership comes amid a flurry of activity in this rapidly growing sector in the Garden State.
Ørsted is partners with PSEG on the project, which will be able to power nearly 500,000 New Jersey homes. Thursday’s announcement is expected to create more than 200 direct jobs and hundreds of indirect jobs in South Jersey.
“The New Jersey Wind Port is a historic and catalytic investment. As a state, we’ve committed more than $500 million to build the essential infrastructure required to install offshore wind projects from our shores. This investment is enabling both clean energy projects and New Jersey’s long term economic growth,” Murphy said. “Today’s announcement with Ørsted is proof that our strategy to establish New Jersey as a national leader in offshore wind is working and brings us a step closer to achieving our goal of 100% clean energy by 2050.”
When the project is complete, which is expected in 2024, and fully scaled up, which is expected around 2026, Ocean Wind 1 is anticipated to create up to 1,500 jobs and contribute more than $500 million each year to the state’s economy.
“As the nation’s leading offshore wind energy company, Ørsted is committed to transforming ambition into action in order to create a world that runs entirely on green energy,” said Ørsted Offshore North American Chief Executive Officer David Hardy. “New Jersey is on the forefront of wind energy technology, and through our partnership, the Ocean Wind 1 project will deliver hundreds of jobs, clean energy, and transformative infrastructure to the region.”
“We are thrilled to welcome Ocean Wind 1 to Salem County as the New Jersey Wind Port’s first tenant. By partnering with Ørsted and PSEG, the New Jersey Wind Port will create hundreds of high-quality jobs and will drive millions of dollars of investment back into our communities,” said NJEDA Chief Executive Officer Tim Sullivan. “As we look toward the future, investing in New Jersey’s green economy has never been more important, and today’s announcement is a testament to Gov. Murphy’s ground-breaking vision for establishing New Jersey as a purpose-driven, global, green energy leader.”
The NJEDA has set a goal of 15% of total construction value to be subcontracted to minority-, women- and veteran-owned firms, as well as a target for 18% minority and 6.9% women workers on site.
“New Jersey is well positioned to lead in the transition to clean energy and PSEG is committed to developing the state’s clean energy economy,” said PSEG Renewable Generation President Lathrop Craig. “As the state’s largest owner and operator of transmission assets, we excel at creating the infrastructure to deliver power where it’s needed most while creating good paying jobs throughout our state’s diverse communities. The Ocean Wind 1 project is an integral part of the state’s clean energy future and we’re honored to be a part of this process.”
The NJEDA has been ramping up programs and collaborations with Salem County stakeholders to help support access to the booming offshore wind industry for local residents and businesses.