The Connecticut Port Authority, Gateway Terminal and the City of New London have established a partnership under which New London will receive a share of the revenue coming from the State Pier.
Under the terms of the partnership, New London will receive 10% of the Port Authority’s share of the revenue from the State Pier, in addition to an annual USD 75,000 fee to defray the cost of services the city provides.
According to Connecticut’s Governor Ned Lamont, the partnership outlines the city’s role in shaping the future of the State Pier to serve as the regional hub for the offshore wind industry and other opportunities.
The Port Authority will also support the efforts to amend its enabling statutes to include the New London mayor as an ex officio member of its Board of Directors.
“I am pleased that New London will be receiving additional revenue to help offset the cost of city services that support the operations at State Pier and I am excited that New London is on its way to becoming the offshore wind capital of the northeast,” said New London Mayor Michael Passero .
“I also want to recognize the great and growing partnership of the city with Ørsted U.S. Offshore Wind. Most importantly, along with important financial resources, the city now has a seat at the table for future discussions involving State Pier, and I look forward to working with the Port Authority and our private sector partners to advance our long-term partnerships for the economic future of the state, our region, and New London.”
Connecticut has committed over USD 30 million in recent years toward renovating the State Pier into a regional hub for green jobs. In May last year, then governor Dannel P. Malloy requested approval from the State Bond Commission for a USD 15 million investment to enable the pier to be used for seven offshore wind projects planned in the northeast.
This U.S. state is also on track to getting its first offshore wind farm. Developed by Ørsted, the 300MW Revolution Wind will contribute nearly USD 32 million in local investments. It is expected to be in construction from 2022 to 2023 some 15 miles south of Martha Vineyard.