Atlantic Power Transmission LLC (APT), a Blackstone (NYSE: BX) portfolio company, has partnered with Morrison Energy (Morrison) to position New Jersey as a provider of rapidly developing offshore wind energy generation and transmission supply chain.
The combined collective expertise of APT, Morrison and Blackstone collaborating on this landmark initiative underscores APT's long-standing commitment to investing in New Jersey's workforce and kicks off an exciting chapter in the East Coast's clean energy transition.
As part of the agreement, Morrison will have a dedicated presence in New Jersey, adding industry expertise while supporting APT's commitment of USD 50 million over 10 years to support workforce development investment in New Jersey via the fabrication of 5,000-ton substation foundation jackets. The commitment contributes to the creation of a workforce hub for the burgeoning offshore wind industry in the Northeast region and the state, addressing one of the recommendations outlined by the New Jersey Offshore Wind Strategic Plan.
APT's comprehensive transmission solution is expected to generate USD 1.5 billion in economic benefits to New Jersey, including enabling 1,000 direct jobs annually during five construction years. Beyond these quantifiable benefits, APT and the New Jersey Union Coalition are working to establish New Jersey's industry leadership by focusing on maximizing local manufacturing opportunities, including working with local companies and building components in-state.
APT is a Blackstone Infrastructure Partners portfolio company headquartered in Princeton, New Jersey, and is dedicated to developing, constructing and operating planned transmission systems along the US East Coast to enable efficient interconnection of commercial-scale offshore wind facilities.
Morrison, headquartered in Houma, Louisiana, has over 39 years of experience serving as a preferred contractor and fabricator for many energy companies. With US and international fabrication experience, Morrison is well positioned to construct substation foundation jackets and ancillary components for large-scale projects.
(Distributed for SocialBizWire via M2 Communications (m2.co.uk))