Ørsted Submits Ocean Wind Bid in New Jersey

Ørsted has submitted a bid to the New Jersey Board of Public Utilities (NJBPU) for the construction of its Ocean Wind offshore wind project in response to the state’s request for proposals.

Source: Ocean Wind

If the project is approved, Ørsted will work with the non-utility affiliates of Public Service Enterprise Group (PSEG), which would provide energy management services and potential lease of land for use in project development.

PSEG, a decade-long partnership with Ørsted, will have the option to become an equity investor in the project, the Danish developer said.

According to the company, Ocean Wind will make significant investments in New Jersey’s offshore wind fabrication, construction and maintenance infrastructure, creating long-term job potential and reducing the cost of future offshore wind farms in the region.

The project is expected to provide the first U.S. permanent offshore wind manufacturing jobs and create up to 1,000 annual construction jobs during a two to three-year construction cycle.

Ørsted also announced it would establish the Ocean Wind Pro-NJ Grantor Trust to support minority and women business enterprises, and/or small businesses entering the industry, as well as investments in infrastructure resiliency projects throughout South Jersey.

“Today is an important milestone in the state’s desire to build out its renewable energy portfolio,” said Thomas Brostrøm, CEO of Ørsted US Offshore Wind and President of Ørsted North America.

“As the global leader in the development of offshore wind, we are confident in our ability to deliver a comprehensive, competitive project that will help Gov. Murphy achieve his goal of 3,500 megawatts of offshore wind by 2030, while boosting the economy and creating jobs.”

New Jersey’s Governor Phil Murphy set out the goal of developing 3.5GW of offshore wind capacity by 2030 by signing the A-3723 – the Renewable Energy bill in May.

The first step in meeting the goal was made in September when BPU unanimously approved an order opening an application window for 1.1GW of offshore wind, so far the nation’s largest single-state offshore wind solicitation.