Statement from Liz Burdock, CEO & President, Business Network for Offshore Wind
“The International Energy Agency reports almost $1T will be in invested in offshore wind by 2040. Today’s announcement by Governor Phil Murphy and the New Jersey Board of Public Utilities places New Jersey, its businesses and residents in a strong and unique position to capitalize on the ongoing growth in the global offshore wind market,” said Liz Burdock, CEO & President of the Business Network for Offshore Wind. “This additional 3500MW will accelerate the development of the state’s offshore wind industry and supply chain, and will translate into more economic opportunities, and more jobs, up and down the New Jersey coastline,” added Burdock.
Burdock said that doubling of New Jersey’s offshore wind target to 7500MW by 2035 will further encourage investment in U.S. businesses for the manufacturing of components, and continue to lower electricity costs for businesses and ratepayers. In short, offshore wind, led by New Jersey, is about to become a mainstream industry in the U.S.
“Currently, East Coast states have contracted a combined 8,240 MW of offshore wind electricity generation. These projects are currently under development, and will have “steel in the water” by 2026. There is no doubt that the US offshore wind industry is moving forward because of strong State leadership and commitment.
Today’s new, expanded goal of 7500MW by 2035 demonstrates Governor Murphy’s lasting commitment to offshore wind, and will significantly advance New Jersey towards its goal of 100% clean energy by 2050. We welcome that challenge and responsibility. Now it’s up to the developers, manufacturers, regulators, suppliers and skilled labor force to make it happen,” said Burdock.
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About the Business Network for Offshore Wind
The Business Network for Offshore Wind is a 501(c)(3) organization dedicated to establishing an offshore wind supply chain in the United States. The Network is focused on delivering education, creating partnerships and advancing the industry. All membership and event proceeds are invested back into supporting the industry by helping the Network continue programmatic education and develop the tools and networks necessary to create a U.S. offshore wind supply chain. The Network hosts the annual International Offshore Wind Partnering Forum (IPF) (www.2020ipf.com), the leading technical conference for offshore wind in the United States dedicated to moving the industry forward.