Eversource and Ørsted Announce Connecticut Economic Development Commitments and Community Contributions

07 Nov 2019

Developers of Connecticut's first offshore wind farm, Eversource and Ørsted, announced their economic development commitments and community contributions as part of their Constitution Wind project bid, which was submitted to the state in late September in response to a Request for Proposals (RFP) for offshore wind energy generation.

Constitution Wind's economic development commitments will strategically invest in local port infrastructure for direct use by the offshore wind industry, renew the economically distressed City of New London, catalyze regional economic activity, including supply chain development, develop an offshore wind workforce from local skilled labor, and advance climate mitigation and resiliency.

If selected in the current RFP, Constitution Wind will make more than $100 million in direct financial commitments to benefit Connecticut families, workers, and communities, including:

  • Eastern CT Small Business Loan Fund, Southeastern CT Enterprise Region (seCTer)
  • CT Offshore Wind Scholarships for community college students 
  • Building Pathways Pre-Apprenticeship program, CT United Labor Agency 
  • Research and environmental monitoring, UConn Avery Point and Mystic Aquarium 
  • Energy efficiency improvements for low-income New London County residents, Thames Valley Community Action Agency 

Eversource and Ørsted have also committed to invest $57.5 million for upgrades to New London State Pier, an underutilized state asset, to accommodate the industry and create a world-class offshore wind staging hub in Connecticut. 

"We are delivering unmatched investments into Connecticut that will support Connecticut workers and drive economic activity and future growth while also helping the state meet its recently strengthened climate change mandates," said President of Ørsted North America and CEO of Ørsted U.S. Offshore Wind Thomas Brostrøm. "Following up on the selection of our Revolution Wind project and our investment to transform New London State Pier into a world-class offshore wind center, our proposed Constitution Wind project will be delivered by the industry's leading experts to ensure the project is achievable, sustainable and successful for Connecticut."

"Through our four years of project development and outreach, there is great enthusiasm for offshore wind from Connecticut residents, businesses, and communities who recognize the economic benefits this new industry will bring to our shores," said Eversource Executive Vice President for Enterprise Energy Strategy and Business Development Lee Olivier. "We look forward to being a catalyst for Connecticut's transition to clean, affordable, offshore wind energy while significantly supporting the communities where we live and work."

In addition to the direct economic development commitments, the local Constitution Wind project work, which includes the pre-assembly and load out of wind turbines and secondary steel fabrication, is an additional $143 million investment in the state.  

Constitution Wind included multiple project proposals that offer Connecticut flexibility in selecting its next offshore wind project. The project supports Connecticut's requirement that 40 percent of the state's electricity comes from renewable sources by 2030. With more than 5 gigawatts of power plants at risk to retire over the next decade, Constitution Wind will replace lost capacity and diversify the state's power sources with clean, affordable energy. 

Drawing from Ørsted's unmatched record of developing 25 offshore wind farms around the globe on time and on budget, and Eversource's more than 100-year presence in the Northeast, industry-leading financial strength, and regional transmission development expertise, Constitution Wind brings unparalleled differentiators to its bid including a four-year project maturity, long-term engagement with marine life and fisheries, and substantial investment in Connecticut. 

Eversource | http://www.eversource.com

Ørsted | orsted.com