NJEDA and PSEG sign 78-year lease deal for New Jersey Wind Port
The New Jersey Economic Development Authority (NJEDA) and Public Service Enterprise Group (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.
The port will provide a location for essential staging, assembly, and manufacturing activities related to offshore wind along the US east coast. The Wind Port is located adjacent to PSEG’s nuclear generating site, which today provides more than 90% of New Jersey’s electricity.
“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,” said NJEDA chief executive officer Tim Sullivan.
“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 said. “Alongside PSEG’s nuclear plants, the New Jersey Wind Port will establish South Jersey as the heart of New Jersey’s 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. It is one of a select few ports on the east coast that can house offshore wind turbine marshalling and manufacturing. It has the potential to create more than 1,500 manufacturing, assembly and operations jobs, as well as hundreds of construction jobs.
New Jersey has committed to producing 7.5 GW of offshore wind energy by 2035. Offshore wind investment one the US east coast through 2035 is anticipated to exceed $150bn.
