Orsted Offshore North America has signed a letter of intent (LOI) with the New Jersey Economic Development Authority (NJEDA) to be the first tenant at the NJ Wind Port in Salem County.
The tenancy will support the 1.1GW Ocean Wind 1 offshore wind farm, which Orsted is developing with PSEG.
The lease for the Ocean Wind 1 project is targeted to start 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 NJ Wind Port is considered phase one and is targeted for completion in early 2024.
Subsequent phases will come online between 2024 and 2026.
New Jersey Governor Phil Murphy said: “The New Jersey Wind Port is a historic and catalytic investment.
“As a state, we’ve committed more than $500m 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.
“Today’s announcement with Orsted 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.”
Orsted Offshore North American chief executive David Hardy said: “As the nation’s leading offshore wind energy company, Orsted is committed to transforming ambition into action in order to create a world that runs entirely on green energy.
“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.”
NJEDA chief executive Tim Sullivan said: “We are thrilled to welcome Ocean Wind 1 to Salem County as the New Jersey Wind Port’s first tenant.
“By partnering with Orsted 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.
“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.”