Governor Hochul announces nationwide leading investment of $ 500 million in offshore wind energy production

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Governor Kathy Hochul announced on Jan. 5 a plan to strengthen New York’s leadership position in renewable energy and make a nationwide leading $ 500 million investment in offshore wind production as part of State of the State 2022.

This plan will invest directly in the offshore wind industry and supply chain infrastructure, creating thousands of well-paying green jobs, making billions in economic impact, and generating enough energy to power millions of homes.

“With this investment, New York will lead the nation in offshore wind production, create green jobs for New Yorkers and drive our future of clean energy,” said Hochul. “I am proud to make New York a leading provider of offshore wind and renewable energy. We have to use the potential of offshore wind power to advance our economy and achieve our ambitious climate goals. “

Hochul’s offshore wind plan will build on more than 6,800 direct high-paying jobs, a nationwide economic impact of $ 12.1 billion, and more than 4.3 gigawatts of power sufficient to power nearly 3 million New York homes supply what is half of New York’s 2035 target. To consolidate New York’s national leadership in offshore wind energy, Hochul will:

  • Invest $ 500 million in critical offshore wind infrastructure: New York will invest up to $ 500 million in the port, manufacturing, and supply chain infrastructure needed to grow its offshore wind industry and use private capital to generate more than $ 2 billion in economic activity create more than 2,000 well-paid green jobs at the same time. This investment will ensure that New York has the strongest offshore wind energy market along the east coast and allow the state to be the offshore wind supply chain for other projects along the coast. For the past several years, former District President James Oddo has advocated a potential wind turbine assembly facility on Staten Island’s South Shore. It’s unclear whether the initiative, loosely known as the Arthur Kill Terminal Project, will be a priority among the state’s investments.
  • Obtain enough new offshore wind energy to supply at least 1.5 million households with electricity and create at least 2,000 new jobs: NYSERDA will launch its next offshore wind procurement in 2022, which is expected to result in at least 2 gigawatts of new projects – enough to power 1.5 million households, bringing the total number of the state to more than 4.5 million households that operated with offshore wind. NYSERDA will couple this procurement with a $ 500 million investment in offshore wind infrastructure for maximum leverage for New York.
  • Start planning a future offshore wind transmission network to power 4 million New York homes: To implement an offshore wind network capable of delivering at least 6 gigawatts of offshore wind energy directly to New York City while minimizing the impact on land and on the ocean floor, government agencies are conducting a New York State Cable Corridor Study to identify strategic offshore wind cable corridors and access points.
  • Start the Offshore Wind Masterplan 2.0 Deep Water: Building on the success of New York’s award-winning Offshore Wind Master Plan, NYSERDA will initiate a new Master Plan 2.0: Deep Water to open up the next frontier in offshore wind development.

In parallel with these new measures, New York will begin construction of the state’s first offshore wind project, the South Fork Wind Farm, in early 2022.


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