Blackstone portfolio firm files offshore wind transmission bid in New Jersey
Offshore wind turbines. Source: LICengineering
Atlantic Power Transmission LLC (APT), a portfolio company of alternative asset manager Blackstone (NYSE:BX), on Wednesday said it has bid to develop an offshore wind transmission project in New Jersey of up to 3,600 MW.
The company’s bid is in response to the 2021 New Jersey Offshore Wind SAA Transmission Solicitation launched by the New Jersey Board of Public Utilities, in partnership with PJM Interconnection.
The project will use underground lines over its entire route, land onshore at an existing industrial site and connect to an existing substation in Central New Jersey, Blackstone said. It is expected to create over 1,000 jobs and more than USD 1.3 billion (EUR 1.1bn) in economic value to the New Jersey economy.
APT has committed to prioritising union labour.
Other companies have also submitted proposals for offshore wind transmission in New Jersey, including NextEra Energy Transmission Mid-Atlantic Holdings LLC, part of US utility group NextEra Energy Inc (NYSE:NEE), and a partnership between New Jersey-based Public Service Enterprise Group Inc (NYSE:PEG), or PSEG, and Danish energy group Ørsted A/S (CPH:ORSTED).