The investment is aimed at strengthening New York's position as the nation's hub for offshore wind
New York Governor Kathy Hochul has announced plans to make a $500m investment to boost offshore wind infrastructure in the state.
The investment is aimed at strengthening New York’s position as the nation’s hub for offshore wind.
Under the plan, the state will directly invest in offshore wind manufacturing and supply chain infrastructure, while creating thousands of green jobs.
The Governor’s new offshore wind plan will build on more than 6,800 direct jobs, a combined economic impact of $12.1bn statewide, and over 4.3GW of energy.
Hochul said: “With this investment, New York will lead the nation on offshore wind production, creating green jobs for New Yorkers, and powering our clean energy future.
“I am proud to make New York a leader in offshore wind and renewable energy. We must harness the potential of offshore wind to fuel our economy forward and meet our ambitious climate goals.”
The new investment is planned to be made in the ports, manufacturing, and supply chain infrastructure to advance the state’s offshore wind industry.
By leveraging private capital, the new plan is expected to deliver more than $2bn in economic activity, while creating over 2,000 green jobs.
The New York State Energy Research and Development Authority (NYSERDA) is also anticipated to launch its next offshore wind procurement this year.
The procurement could result in at least 2GW of new projects, which is enough to power 1.5 million homes.
To obtain maximum leverage for New York, NYSERDA is expected to combine offshore wind procurement with the new $500m investment.
The state will also begin planning for an offshore wind transmission network that will be able to power four million New York City homes.
A New York State Cable Corridor Study will be carried out by state agencies to find strategic offshore wind cable corridors and access key points of interconnection to the grid.
In addition, New York is expected to commence construction on the South Fork Wind Farm, the state’s first offshore wind project, in early 2022.