NJEDA UPDATE
NJEDA , PSEG Sign 78-Year Lease for the NJ Wind Port
The deal will drive billions of dollars of economic activity in South Jersey .
Compiled by John Joseph Parker Contributing Editor
The New Jersey Economic Development Authority ( NJEDA ) and PSEG have signed a lease allowing for a term of up to 78- years on land that will be home to the New Jersey Wind Port in Salem County , New Jersey , further positioning the state as a hub for clean energy and the U . S . offshore wind industry .
The port will provide a location for essential staging , assembly and manufacturing activities related to offshore wind along the East Coast . The Wind Port is located adjacent to PSEG ’ s nuclear generating site , which today provides more than 90 percent of New Jersey ’ s carbon-free electricity , and together , offshore wind and nuclear energy will deliver powerful support for our state and national clean energy ambitions .
“ The New Jersey Wind Port is a transformational investment that will create hundreds of good jobs and drive billions of dollars of economic activity in South Jersey and throughout the State ,” says NJEDA Chief Executive Officer
PSEG COO Ralph LaRossa 50 COMMERCE www . commercemagnj . com
Tim Sullivan . “ This is a vital project that will help communities recover from the devastating impacts of the COVID‐19 pandemic and move us closer to Governor Murphy ’ s vision for a stronger , fairer New Jersey economy . The NJEDA is proud to partner with PSEG to bring this valuable new infrastructure asset to life .”
“ The lease signing with the NJEDA is cause for celebration as the New Jersey Wind Port will provide a foundation for even more carbon-free energy in our region ,” PSEG Chief Operating Officer Ralph LaRossa explains . “ Alongside PSEG ’ s nuclear plants , the New Jersey Wind Port will establish South Jersey as the heart of New Jersey ’ s clean energy economy . By supporting the development of renewable offshore wind power , this lease and the facility to come will establish New Jersey as the destination for clean energy development , operations , training , skills and innovation .”
“ PSEG and PSEG Nuclear welcome broad partnerships such as ours with the NJEDA and we look forward to continuing to drive innovation , growth and investment in the clean energy economy .”
“ Salem County and South Jersey are already home to exceptional innovation , operations , and a workforce skilled in generating clean energy for millions of customers . And now , with the addition of the New Jersey Wind Port , PSEG is proud to support the state as we become the hub for development of carbon-free resources for the East Coast ,” PSEG Nuclear President and Chief Nuclear Officer Eric Carr says . “ PSEG and PSEG Nuclear welcome broad partnerships such as ours with the NJEDA and we look forward to continuing to drive innovation , growth and investment in the clean energy economy .”
Offshore wind is a central component of Governor Phil Murphy ’ s Energy Master Plan to achieve 100 percent clean energy by 2050 . As part of that plan , New Jersey has committed to producing 7,500 megawatts of offshore wind energy by 2035 . Up and down the East Coast ,
NJEDA CEO Tim Sullivan
offshore wind investment through 2035 is anticipated to exceed $ 150 billion . The U . S . offshore wind industry is expected to create 83,000 new ( direct ) jobs by 2030 , most of which will be in the Northeast and Mid-Atlantic . Through strategic investments and development , New Jersey can become a national leader in numerous portions of the offshore wind supply chain and become central to the clean energy economy .
The New Jersey Wind Port is located on an artificial island on the eastern shores of the Delaware River , southwest of the City of Salem . With its expansive footprint , lack of height restrictions , and easy access to the Atlantic Ocean ’ s wind farm lease areas , the Wind Port is one of a select few ports on the East Coast that can house offshore wind turbine marshalling and manufacturing . A key component of offshore wind turbine marshalling is the vertical assembly of turbine towers , which are hundreds of feet tall and cannot fit beneath bridges , power lines and other naturally occurring barriers that would impose height restrictions . No other port in the region can support the marshalling and
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