ATLANTIC CITY – New Jersey Governor Phil Murphy announced today that the New Jersey Economic Development Authority (NJEDA) signed a Letter of Intent (LOI) with Ørsted Offshore North America for New Jersey’s first offshore wind project, Ocean Wind 1. Ørsted, the world’s largest developer of offshore wind, is partnering with PSEG on the Ocean Wind 1 project. The project’s 1,100 megawatts of power are enough to power 500,000 New Jersey homes.

Today’s announcement, which was made during the Governor’s keynote address at the Business Network for Offshore Wind’s International Partnering Forum (IPF) in Atlantic City, delivers on the promise of the NJ Wind Port as a key infrastructure asset that will be an economic driver in Salem County and throughout the state. When the Ocean Wind 1 project was initially approved by the New Jersey Board of Public Utilities (NJBPU) in June of 2019, this approval was based on the project utilizing an existing out-of-state port to marshal the project. Following the state’s groundbreaking investment in developing the first purpose-built port for offshore wind in the United States, the project seized the opportunity to utilize the New Jersey Wind Port, being the first to officially join the state’s effort to develop the nation-leading wind power supply chain. This announcement is anticipated to create over 200 pre-assembly, load out, and stevedoring jobs in South Jersey, and hundreds of indirect jobs.

The lease for the Ocean Wind 1 project targeted to commence in April 2024 for a maximum term of two years. Binding agreements are anticipated to be submitted to the NJEDA Board by June of this year. This section of the New Jersey Wind Port is considered Phase 1 and is targeted for completion in early 2024. Subsequent phases will come online between 2024 and 2026. At full-scale, the New Jersey Wind Port is anticipated to create up to 1,500 jobs and to contribute more than $500 million each year to New Jersey’s economy.

“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,” said New Jersey Governor Phil Murphy. “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 percent clean energy by 2050.”

“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 (CEO) 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 towards the future, investing in New Jersey’s green economy has never been more important, and today’s announcement is a testament to Governor Murphy’s ground-breaking vision for establishing New Jersey as a purpose-driven, global, green energy leader.”

Sullivan added that the NJEDA contracted with Rutgers University to conduct a Disparity Study to ensure meaningful inclusion of minority, woman, and veteran business enterprises in the Wind Port project. The NJEDA’s project delivery approach includes a focus on inclusion and supplier diversity, with a goal of 15 percent of total construction value to be subcontracted to minority, women, and veteran-owned firms and a target for 18 percent minority and 6.9 percent women workers on site.

“As a global offshore wind industry leader, Ørsted recognizes Salem County’s advantages for offshore wind marshalling and manufacturing,” said Jane Cohen, Executive Director, Office of Climate Action and the Green Economy. “Their decision to locate at the New Jersey Wind Port solidifies New Jersey’s position as the nation’s hub for offshore wind, and is a tangible step toward delivering on the promise of good jobs, a thriving local economy, and a healthier environment for the people of New Jersey.”

“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 New Jersey Wind Port is a once-in-a-generation opportunity to establish New Jersey as the epicenter of the wind industry, providing thousands of jobs and billions of dollars of economic investment back into our state,” said NJBPU President Joseph L. Fiordaliso. “Today’s announcement with Ørsted serves as a testament to Governor Murphy’s vision for a clean energy future that benefits all New Jersey residents, and furthers his commitment towards achieving the goal of 7,500 megawatts of offshore wind by 2035.”

NJEDA has been collaborating with Salem County stakeholders on initiatives to support access to the offshore wind industry for small businesses and local residents. Recently, the NJEDA Board approved an agreement with Salem County Vocational Technical School for the NJEDA to provide up to $200,000 to support the expansion of programs that will prepare students and workers for jobs in heavy steel offshore wind component manufacturing. This effort is complementary to a similar agreement between the NJEDA Gloucester County Institute of Technology, and part of a larger workforce development strategy that includes the development of the Wind Institute, and related fellowship programs and university initiatives.