Bids Are Submitted in Response to Governor Murphy’s First-in-the-Nation Solicitation for Offshore Wind Transmission, Another Step Toward Achieving New Jersey’s Clean Energy Goals
Anbaric Development Partners, a leading developer of electric transmission projects and the primary advocate for a transmission-first approach to offshore wind, today submitted to PJM a portfolio of 19 projects – the Boardwalk Power Link projects – to deliver offshore wind into New Jersey, including a transmission network that will maximize the delivery of offshore wind into the grid. PJM is conducting this procurement on behalf of the New Jersey Board of Public Utilities (NJBPU). Anbaric partnered in its submission with Ferreira Construction, a seasoned New Jersey utility and civil contractor, and Anbaric’s investor, the Ontario Teachers’ Pension Plan (Ontario Teachers’).
Anbaric’s portfolio of projects defines a new era for the offshore wind industry: planned transmission systems, open equally to all offshore wind generators, maximizing the use of scarce connection points on the grid, minimizing impacts on the environment and coastal communities, while stimulating competition in the industry and boosting the efficiency of our grid. The portfolio of projects includes a range of project scopes and capabilities, including large-scale, networked transmission systems that can integrate thousands of MWs of offshore wind and power several million homes with clean energy. These proposed transmission systems will accelerate the growth of the industry and create significant clean energy jobs. Anbaric’s bids also respond to the goals set out by the NJBPU related to ratepayer impact by providing an aggressive return on equity (ROE), which declines with cost or schedule overruns, capped equity, and include firm cost caps to provide additional ratepayer protections.
With these proposals, Anbaric is ready to deliver highly feasible, efficient, scalable industry-leading solutions to the transmission needs of New Jersey. These solutions solve both on-shore and in-water transmission challenges but do so in a way that minimizes environmental impact, maximizes the capacity of three existing onshore substations, and ultimately provides the state with a system that meets today’s transmission needs, but can expand to accommodate future offshore wind resources, with a resilient and redundant networked system.
The portfolio of projects that Anbaric is proposing utilizes 400kV high voltage direct current (HVDC) transmission. This technology allows for a single cable bundle to be used to transmit the power that would otherwise require four AC cables and lead to greater costs, routing, environmental and permitting challenges. This system also allows more power to be transmitted at longer distances with far fewer losses and adds to power grid reliability by providing power flow control and significant reactive power that can help wind replace the grid services that traditional fossil power plants provided in the past. Sea platform locations allow for ready use by bidding offshore wind generators in future New Jersey offshore wind procurements, while increasing competition in such solicitations between generators who no longer are limited in their bid by their distance from shore. These projects also provide a transmission-first approach that gets transmission – often the bottleneck element of new project development – moving ahead of generation to ensure that renewable energy additions are not delayed.
Among its bids, Anbaric has included the Boardwalk Powerlink Project, which delivers up to 2800 MW of offshore wind to the Deans substation in South Brunswick, New Jersey. Anbaric has been developing this project for almost eight years and the project is largely designed and permitted, providing a shovel-ready project option.
“We are honored to participate in this remarkable procurement and to showcase the critical role transmission will play in New Jersey’s clean energy future,” said Janice Fuller, President, Mid-Atlantic for Anbaric. “This solicitation embodies Governor Murphy’s nation-leading commitment to scale the offshore wind industry while also achieving aggressive clean energy goals set forth by the Administration and boosting investment in the State. Anbaric’s suite of proposals presents the lowest-cost, most efficient way to proceed with offshore wind transmission: an open-access, planned system modeled after successful systems already in operation in Europe that we have been advocating for here in New Jersey. If transmission infrastructure can reduce costs and fortify the grid in Great Britain, the Netherlands, and Germany, it can do that here.”
Anbaric examined hundreds of potential transmission scenarios and identified projects that efficiently deliver power to shore, protect the environment, coastal communities, and the ratepayer, and can be developed in stages to accompany the growth of the offshore industry. The portfolio of projects allows PJM and the BPU to customize offshore infrastructure to the next stages of offshore wind procurements.
Working with local communities and interests has been a hallmark of Anbaric’s past development work in the region. Anbaric remains committed to robust engagement throughout the development process with all interested parties, including but not limited to the fishing community, local residents and elected officials, labor and business partners, environmental advocates and the environmental justice community. Also included in Anbaric’s bid package is a commitment of approximately $5 million in community grants for STEM programs.
Ontario Teachers’ is Canada’s largest-single profession pension plan with investments that span the globe and include Global Container Terminals, operator of Bayonne Container Terminal, and Cubico Sustainable Investments. It recently announced the signing of an agreement to jointly acquire a 31.6 percent stake in Puget Holdings, the parent company of Puget Sound Energy.
“Ontario Teachers’ is pleased to invest in Anbaric and be a partner on this transformative bid application. Recognizing the long-term transmission needs associated with the clean energy transition, Ontario Teachers’ invested in Anbaric four years ago as the company first proposed a clean ocean grid and began working to develop projects that aligned with that vision. Ontario Teachers’ and Anbaric are committed to the development of cost-efficient clean energy to address the immediate threat of climate change,” said Chris Ireland, Managing Director, Greenfield Investments and Renewables at Ontario Teachers’.
Ferreira is one of New Jersey’s best-known, respected, and reliable construction companies, having performed work on the Garden State Parkway, Route 206, Bayonne Bridge, Pulaski Skyway and Newark Liberty International Airport in addition to work on electrical infrastructure projects for utilities throughout the nation. Headquartered in New Jersey, Ferreira has offices in Florida, New York, California, and Rhode Island. Led by founder Nelson Ferreira, the company has over $500 million in annual sales and over 1,000 employees.
“Ferreira is committed to making New Jersey’s clean energy goals a reality,” said Nelson Ferreira, President, CEO and Founder of Ferreira Construction. “This submission offers one of the state’s best opportunities to make that happen. It’s forward-thinking, environmentally conscious, and works on a scale we have not seen before. We are honored to be a partner in this endeavor and look forward to getting to work should this submission be chosen.”
As announced earlier this year, Anbaric engaged DNV, a top advisor in the energy industry, to help develop the solutions put forth in the bids submitted today.
About Anbaric:
Anbaric is a majority employee-owned, U.S.-based company focused on designing and developing transmission projects on the bulk power grid and scaling renewable energy. For more information on our work in New Jersey, visit nj.anbaric.com; for more information about the company in general, visit anbaric.com.
About Ontario Teachers’:
Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with C$227.7 billion in net assets (as of June 30, 2021). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.6% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region offices are located in Hong Kong and Singapore, and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded as of January 1, 2021, invests and administers the pensions of the province of Ontario’s 331,000 active and retired teachers. For more information, visit otpp.com and follow Ontario Teachers on Twitter @OtppInfo.
About Ferreira Construction:
Ferreira Construction is a first-rate company built on a foundation of integrity. They have experience and expertise in all facets of transportation infrastructure, utility/power, marine construction, and construction management. Ferreira is a nationally-recognized leader in the construction industry due to our proven track record of successful project execution, effective planning and emphasis on safety.
###
Contact: Chris Donnelly, 732-280-9600, [email protected]