Atlantic Power Transmission (APT), a Blackstone portfolio company, submitted a bid to develop a clean power transmission solution in response to the 2021 New Jersey Offshore Wind SAA Transmission Solicitation initiated by the New Jersey Board of Public Utilities.
APT’s project offers a total offshore wind transmission solution of up to 3,600 MW and is expected to provide over $1.3 billion in economic value to the New Jersey economy. The project could deliver clean offshore wind power to over 1.5 million New Jersey families, enabled by an underground clean energy corridor connecting to an existing substation in Central New Jersey.
APT has prioritized union labor and has partnered with the New Jersey union coalition, including the Eastern Atlantic States Regional Council of Carpenters, International Union of Operating Engineers Locals 825 and 25 and Iron Workers Local 399, which will bring the region’s trained tradespersons to this project and ensure that trades unions are a bedrock of New Jersey’s clean energy program.
“We are excited to support New Jersey’s offshore wind efforts and are proud to partner with the New Jersey union coalition,” said Sean Klimczak, global head of infrastructure at Blackstone. “Blackstone Infrastructure has a proven track record and commitment to long-term partnerships, and we look forward to continuing with this transformative and innovative clean energy development project.”
The entire route of the project will use underground electric transmission lines to minimize its social and environmental impacts. The project enters onshore at an existing industrial site and aims to avoid disrupting New Jersey’s beachfront communities.
“We highly value our union partnership and our collaboration with the communities along the clean energy corridor,” said Andy Geissbuehler, CEO of APT. “We are committed and able to manage the risks to safely and reliably construct and operate a compelling transmission solution to support New Jersey’s clean energy leadership.”
Blackstone is committed to supporting renewable energy and working closely with its union partners. Since 2019, Blackstone has committed nearly $10 billion in investments that it believes are consistent with the broader energy transition.
“New Jersey is uniquely positioned as a hub for offshore wind, and we are pleased that our skilled tradespersons are at the forefront of this exciting movement to bring greater energy sustainability to our state,” said William C. Sproule, executive secretary-treasurer of the Eastern Atlantic States Regional Council of Carpenters.
News item from Blackstone
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