Invenergy, a leading privately held developer owner, and operator of sustainable energy solutions, announced Wednesday the formation of Jersey Link, a renewable energy transmission initiative that the company feels will ensure a thriving New Jersey clean energy market.
Invenergy acquired the early-stage project, previously known as Atlantic Power Transmission, from Blackstone Infrastructure Partners, which will continue to support the project moving forward.
Invenergy feels the Jersey Link project is an innovative, scalable and comprehensive High-Voltage Direct Current transmission solution that will allow for the integration of up to 3,600 megawatts of new offshore wind into New Jersey’s grid, powering millions of New Jersey homes.
Company officials said initiatives like this are necessary if New Jersey is going to reach its goal of 11,000 megawatts of offshore wind by 2040,
“This announcement underscores Invenergy’s continued commitment to building the critical infrastructure required to advance the offshore wind and transmission goals of New Jersey, and the U.S. at large,” Jersey Link Senior Project Director Robert Taylor said. “Invenergy’s deeply experienced team will ensure Jersey Link cost-effectively delivers offshore wind power to shore, invests in coastal and inland communities and advances workforce development opportunities throughout the state.”
Investment in transmission is essential to meet the country’s growing electricity needs. It also will catalyze significant economic growth, as it directs investment and new skilled jobs into the local economy through coastal community revitalization and new workforce opportunities.
Invenergy officials said their Jersey Link project carries forward a strong labor coalition that supported Atlantic Power Transmission and will advance workforce development via labor partnerships.
“Jersey Link will provide the opportunity to create fair-wage union jobs throughout our community. This project ensures that the work will stay local and will prioritize safety standards as New Jersey continues to build a clean energy industry,” International Union of Operating Engineers Local 825 Business Manager Greg Lalevee said.
William Sproule, executive secretary-treasurer of the Eastern Atlantic States Regional Council of Carpenters, agreed.
Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation, transmission and storage facilities in the Americas, Europe and Asia. Invenergy is based in Chicago, but it has regional development offices in the U.S., Canada, Mexico, Spain, Japan, Poland and Scotland.
Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects.
“Workers must be engaged as New Jersey moves forward with major renewable energy investments,” he said. “Invenergy has a proven track record of building strong partnerships with key project stakeholders including labor, and we expect that to continue with Jersey Link. We look forward to building new pathways for clean energy production and transmission in New Jersey.”
Invenergy is deeply invested in the Garden State, and is the lead developer of Leading Light Wind, an American-led offshore wind project that recently submitted a bid to deliver up to 2,400 MW of clean energy to New Jersey. Invenergy is also a global leader in state-of-the-art HVDC transmission, an essential technology for clean energy integration. Invenergy is currently developing over one-third of proposed HVDC transmission capacity in the U.S. This includes the 5-gigawatt, 800-mile Grain Belt Express, the highest-capacity transmission line in the U.S., which will provide affordable, reliable power to the Midwest and other regions. Jersey Link will leverage Invenergy’s development and project execution expertise as well as experience in HVDC technology to build a technically sound, economically viable and constructable project.
Kurt Summers, senior managing director and head of public-private partnerships at Blackstone, said the group fully supports the initiative.
“Blackstone Infrastructure Partners is pleased to see the announcement of Jersey Link,” he said. “Our longstanding partnership with Invenergy has created extraordinary investment opportunities for sustainable energy projects in New Jersey, across the United States and around the globe.
“Jersey Link is the next step in our continued commitment to support a leading clean energy industry in New Jersey.”