Funds managed by affiliates of Apollo Global Management have struck a deal for the exclusive right to invest in the Arthur Kill Terminal project, an offshore wind energy staging and assembly port under development in Staten Island, New York.
New York-based Atlantic Offshore Terminals (AOT) will lead the development of Arthur Kill Terminal, scheduled to start operations in late 2025.
“Successful development of Arthur Kill Terminal would ensure there is sufficient staging port capacity to build New York’s target of at least 9,000 megawatts of offshore wind by 2035, as well as support the use of jackup vessels, floating foundations, and other emerging offshore wind technologies on the East Coast,” said Boone Davis, president of AOT.
“Arthur Kill Terminal is positioned to be a foundation of the core infrastructure supporting the offshore wind industry in New York and the surrounding region,” added Brad Fierstein, principal at Apollo.
Arthur Kill Terminal is a planned 130,000 sq m offshore wind hub with a 396 m berth designed for specialised offshore wind installation vessels. It should support thousands of jobs during construction operations and provide workers with hands-on experience in offshore wind turbine assembly and commissioning.
In June this year, the US government announced a proposed sale for offshore wind development on the Outer Continental Shelf in the New York Bight, making it the first competitive offshore wind lease sale for the Biden-Harris administration. A new nonprofit organisation, called OSW Supply Chain, was also recently launched to serve as an educational resource for New York state businesses and communities looking to get involved in the US offshore wind industry.
Wind power is intermittent at best. It is also not as cost effective as claimed given recent concerns over cable attrition on the seabed and the high implied maintenance costs requiring diesel powered craft.
As a proportion of generated power in the UK wind and solar have been contributing very low single digit percentages.