Ørsted has signed a Memorandum of Understanding (MoU) with EEW to work towards establishing a monopile fabrication facility in Paulsboro, New Jersey, for the Ocean Wind project.
According to the project documents, the foundation manufacture facility may longer term expand its scope of activities as the Atlantic coast offshore wind industry grows.
Ørsted also signed an MoU with the South Jersey Building and Construction Trades Council to only hire union labor for construction.
The company further plans to establish a Pro-NJ Grantor Trust with a USD 15 million initial investment to enable MBE/WBE or small business entry to the offshore wind industry.
In June, the New Jersey Board of Public Utilities (NJBPU) selected the Ocean Wind project proposed by Ørsted with support from Public Service Enterprise Group (PSEG) to negotiate a 20-year offshore wind renewable energy credit (OREC) for an offshore wind farm with a capacity of 1,100MW.
Located off the coast of Atlantic City, Ocean Wind will be New Jersey’s first large-scale offshore wind farm. Subject to Ørsted’s final investment decision, the wind farm is expected to be completed by 2024.