In Salem County, NJ, Atlantic Shores Offshore Wind, LLC will lease 35 acres of land and expects to create more than 200 new jobs at the New Jersey Wind Port. As spelled out in a Letter of Intent (LOI) with the New Jersey Economic Development Authority (NJEDA), Atlantic Shores will initially use the New Jersey Wind Port for marshaling of a 1.5 gigawatt (GW) offshore wind project being developed by Atlantic Shores Offshore Wind Project 1, LLC. Located off the New Jersey coast, the project will produce enough clean energy to power over 700,000 homes.
Atlantic Shores is the second wind developer to execute an LOI for use of the Port, following execution of an LOI with Ørsted in April 2022.
“Atlantic Shores is thrilled to partner with the NJEDA and utilize the New Jersey Wind Port to marshal the materials and resources required to deliver New Jersey’s largest offshore wind project,” said Atlantic Shores Offshore Wind CEO Joris Veldhoven. “The location offers outstanding waterside access without barriers to transporting assembled turbines vertically and allows us to tap into New Jersey’s highly skilled talent pool and robust workforce development programs. In conjunction with our on-site nacelle assembly facility, Atlantic Shores is proud to contribute to New Jersey’s infrastructure and clean energy economy.”
Atlantic Shores’ lease is expected to start in mid-2026 for a period of up to three years and options to extend, creating long-term value for the state and the facilitation of future offshore wind projects.
“As the second of two major companies to choose the New Jersey Wind Port for assembling and launching East Coast offshore wind projects, Atlantic Shores clearly recognizes the Port’s strategic and tactical advantages,” said NJEDA CEO Tim Sullivan. “Governor Murphy, in partnership with the Legislature, has cultivated a supportive environment for companies that share this administration’s commitment to both clean energy and driving equitable and inclusive economic growth.”
Sullivan noted that one of the key advantages of the New Jersey Wind Port for offshore wind developers is the opportunity to be co-located with Tier 1 component manufacturers. This proximity allows for cost efficiencies in installation to the ultimate benefit of New Jersey ratepayers.
NJEDA issued a notice to lease in late 2021, attracting 16 offers, demonstrating the huge demand across the U.S. east coast for fit-for-purpose port capacity. Negotiations with several tier 1 component manufacturers about establishing turbine factories at the Port are ongoing, and the NJEDA expects to make further announcements in late 2023.
“Ongoing interest in the New Jersey Wind Port shows that addressing climate change and creating jobs are not mutually exclusive goals,” said Jane Cohen, Executive Director, Office of Climate Action and the Green Economy. “The Wind Port and Governor Murphy’s other efforts to combat climate change are driving economic growth, reskilling our workforce, and creating inclusive, long-term career opportunities for all New Jerseyans who want to help advance the green economy.”
“New Jersey’s burgeoning offshore wind program will help us reach the Governor’s goal of 100 percent clean energy by 2050, 11GW by 2040, and is also incredibly important for creating and enhancing the state’s clean energy economy,” said Joseph L. Fiordaliso, President of New Jersey Board of Public Utilities. “Today signifies a milestone for Atlantic Shores, one of the state’s three offshore wind projects to date, demonstrating the significance of the New Jersey Wind Port in the development of offshore wind, not only here in New Jersey, but for the entire region.”
Bluevine Relocates HQ To Jersey City
Bluevine, a global financial technology company specializing in small business financing, has relocated its U.S. headquarters from Redwood, CA to Jersey City, NJ. In addition to doubling its office space footprint in New Jersey, the company is starting to explore additional expansion in the state. About 125 staff members are based in the Jersey City office, and Bluevine expects to recruit approximately 200 new positions with a preference and focus on sourcing talent in New Jersey, making this one of the largest single job announcements from an Israeli-founded company in state history.
“I’m so proud of what our Bluevine team has accomplished thus far to support small business success and their continued growth,” said Eyal Lifshitz, Founder and CEO of Bluevine. “We look forward to this next phase in Bluevine’s story and believe Jersey City and the State of New Jersey’s strong talent pool, top-tier universities, and central location will be catalyzers for Bluevine’s future growth. We are thrilled to be calling Jersey City home.”