Page 28: of Marine News Magazine (September 2020)

27 29

OFFSHORE WIND development agencies will also drive the ? ow of electricity, but also the ? ows of money. “Local content” is a consider- ation where the individual states are heavily involved in the “The major issues are procurement of power.

regulatory…how fast that the

Consider New York, which, in July, issued a tender for purchasing power tied to an April solicitation for between 1 [projects] could be permitted

GW and 2.5 GW of power. Included in the solicitation was by the U.S. government as a ? nancial incentives program, for up to $200 million (in debt, and in actual grants) that would help fund infrastruc- they are all in Federal waters.” ture investment in 10 ports. New York’s planners note, “The – Charlie Papavizas, Lawyer, prioritization of staging and/or manufacturing port utiliza- tion necessitates active coordination between projects and Winston & Strawn eligible ports in order to create real, persistent and sustain- able institutional and labor capabilities in New York State, thereby creating long-term economic opportunities and helping to lower the cost of future offshore wind projects.”

The spirit and legal language of local content looms large all along the coast, as offshore wind ramps up. In New Jer- sey, the state will be investing $300 million to $400 mil- lion in the New Jersey Wind Port (on the eastern shore of the Delaware River), a project with a 2026 completion date. It aims to support $500 million of annual economic

To serve the offshore wind vessel market, Senesco acquired the capability to build with aluminum. It is building a CTV for sister-company WindServe Marine, which has the contract to operate the vessel for Ørsted.

Senesco

September 2020 28 MN