Expands Significant Investment in New Jersey Clean Energy Industry
TRENTON, NJ (December 6, 2023) – Invenergy, the leading privately held developer, owner, and operator of sustainable energy solutions, today announced the formation of Jersey Link, a renewable energy transmission initiative that will ensure a thriving New Jersey clean energy market. Invenergy acquired the early-stage project, previously known as Atlantic Power Transmission, from Blackstone Infrastructure Partners who will continue to support the project moving forward.
As New Jersey pursues the addition of 11,000 megawatts of offshore wind by 2040, Invenergy’s Jersey Link project is an innovative, scalable, and comprehensive High-Voltage Direct Current (HVDC) transmission solution that will allow for the integration of up to 3,600 megawatts of new offshore wind into New Jersey’s grid, powering millions of New Jersey homes.
“This announcement underscores Invenergy's continued commitment to building the critical infrastructure required to advance the offshore wind and transmission goals of New Jersey, and the US at large,” said Robert Taylor, Senior Project Director for Jersey Link. “Invenergy’s deeply experienced team will ensure Jersey Link cost-effectively delivers offshore wind power to shore, invests in coastal and inland communities, and advances workforce development opportunities throughout the state.”
Investment in transmission is essential to meet America's growing electricity needs and will catalyze significant economic growth - directing investment and new skilled jobs into the local economy through coastal community revitalization and new workforce opportunities. Invenergy’s Jersey Link carries forward a strong labor coalition that supported Atlantic Power Transmission and will advance workforce development via labor partnerships.
"Jersey Link will provide the opportunity to create fair wage union jobs throughout our community. This project ensures that the work will stay local and will prioritize safety standards as New Jersey continues to build a clean energy industry," said Greg Lalevee, Business Manager at International Union of Operating Engineers Local 825.
“Workers must be engaged as New Jersey moves forward with major renewable energy investments. Invenergy has a proven track record of building strong partnerships with key project stakeholders including labor, and we expect that to continue with Jersey Link. We look forward to building new pathways for clean energy production and transmission in New Jersey," said William Sproule, Executive Secretary-Treasurer of the Eastern Atlantic States Regional Council of Carpenters.
Invenergy is deeply invested in the Garden State, and is the lead developer of Leading Light Wind, an American-led offshore wind project that recently submitted a bid to deliver up to 2,400 megawatts of clean energy to New Jersey. Invenergy is also a global leader in state-of-the-art HVDC transmission, an essential technology for clean energy integration. Invenergy is currently developing over one-third of proposed HVDC transmission capacity in the United States. This includes the 5-gigawatt, 800-mile Grain Belt Express, the highest capacity transmission line in the U.S. that will provide affordable, reliable power to the Midwest and other regions. Jersey Link will leverage Invenergy’s development and project execution expertise as well as experience in high-voltage direct-current (HVDC) technology to build a technically sound, economically viable, and constructable project.
Kurt Summers, Senior Managing Director and Head of Public-Private Partnerships at Blackstone said, "Blackstone Infrastructure Partners is pleased to see the announcement of Jersey Link. Our long-standing partnership with Invenergy has created extraordinary investment opportunities for sustainable energy projects in New Jersey, across the United States, and around the globe. Jersey Link is the next step in our continued commitment to support a leading clean energy industry in New Jersey."
New Jersey’s decision to leverage the PJM grid operator’s State Agreement Approach a second time and hold another competitive solicitation for offshore wind transmission will help address the limitations associated with offshore projects building individual transmission lines, which is in accordance with the U.S. Department of Energy’s National Transmission Needs Study, which was released in October.
Governor Murphy and the legislature have provided exceptional vision and leadership on clean energy in the Garden State. Their commitment demonstrates that New Jersey will be a prominent offshore wind manufacturing, generation, and energy distribution center. Jersey Link, in conjunction with the demonstrated experience of Invenergy, will help further secure the confidence of investors and developers in the industry.
About Invenergy
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation, transmission and storage facilities in the Americas, Europe, and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland, and Scotland. Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects. Learn about Invenergy at Invenergy.com.
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