October 24, 2023
1.3 GW PROJECT WILL DELIVER BILLIONS IN ECONOMIC BENEFITS, CREATE THOUSANDS OF JOBS AND PROVIDE CLEAN AND AFFORDABLE ENERGY FOR 700,000 HOMES
(NEW YORK, NY) – Vineyard Offshore, the team behind the nation’s first commercial-scale offshore wind project, Vineyard Wind 1, was today awarded 1.3 gigawatts (GWs) in the latest solicitation for offshore wind power held by the New York State Energy Research and Development Agency (NYSERDA). The clean and reliable energy will be produced by the Excelsior Wind Project, located in lease area OCS-A 544 in the New York Bight, which is located 24 miles off the coast Long Island. The lease area is owned by funds administered by Copenhagen Infrastructure Partners (CIP), a global leader in renewable energy investment.
"We are honored that the Hochul Administration has selected our Excelsior Wind project and thank the Governor for her continued commitment to our industry,” said Vineyard Offshore CEO Lars T. Pedersen. “Excelsior Wind will provide clean and affordable energy, powering both economic growth and improvements in environmental and public health. We are grateful that NYSERDA has placed its trust in our proven ability to deliver projects and look forward to continuing to work alongside with state and local government agencies, Tribal Nations, labor, local communities, fishermen, and other stakeholders in the Empire State."
“This is an important milestone in our goal to deliver large-scale renewable energy and create thousands of new jobs for New York. We are excited to bring our expertise and experience from building Vineyard Wind 1, the nation’s first commercial scale offshore wind farm, to the Empire State,” said partner and Head of North America at CIP, Tim Evans. “I want to thank Governor Hochul and her entire team for forging a viable path forward for our industry and for New York.”
“Today, New York is once again placing offshore wind at the center of the State’s clean energy transition with three new projects that will keep us on path toward achieving some of the most ambitious climate and clean energy goals in the nation,” said NYSERDA President and CEO Doreen M. Harris. “NYSERDA looks forward to partnering with Vineyard Offshore on their Excelsior Wind project that will help New York realize the good paying jobs and new investments that come from the development of this industry while also benefiting from cleaner air as result of reduced fossil fuel emissions.”
The 1.3 GWs of offshore wind will power 700,000 homes in New York with clean, reliable and affordable energy, avoiding up to 1.1 million metric tons annually in carbon pollution, the equivalent to taking 225,000 cars off the road every year.
As the first offshore wind developer to sign a project labor agreement (PLA), Vineyard Offshore looks to build on that track record by working with New York’s Union representative organizations to ensure good paying jobs with family sustaining wages and a just transition centered on racial equity and environmental justice.
Led by the most experienced offshore wind team in North America, Vineyard Offshore has crafted the proposals to ensure the deliverability of the projects and their associated economic benefits cement and sustain New York as a national hub of the offshore wind industry.
About Vineyard Offshore
Vineyard Offshore is leading the development of two lease areas in the Northeast, in addition to a recently acquired lease in Northern California, OCS-P 0562. Lease area OCS-A 522, known as Vineyard Northeast, is located off the coast of Massachusetts. OCS-A 544, known as Vineyard Mid-Atlantic and home to the Excelsior Wind Project, is located in the New York Bight. All three lease areas are owned by funds managed by Copenhagen Infrastructure Partners (CIP). Combined with its joint venture development of the first-in-the-nation offshore wind project, Vineyard Wind, now under construction, Vineyard Offshore has the potential to develop more than 6 gigawatts of clean, renewable and affordable energy on the East and West Coasts of the United States. To learn more, visit: www.vineyardoffshore.com.
About Copenhagen Infrastructure Partners
Founded in 2012, CIP today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore- and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, Power-to-X and advanced bioenergy. The Excelsior Wind and Liberty Wind projects are part of CIP’s approximately 15 GW portfolio of renewable generating assets in development, construction, and operation across North America.
CIP manages eleven funds and has to date raised approximately EUR 19 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. CIP will accelerate its role in the global energy transition and aims to have EUR 100 billion under management in green energy investments by 2030. CIP has approximately 400 employees and 11 offices around the world. For more information, visit www.cip.dk.