ASBURY PARK – Anbaric Development Partners, one of the nation’s leading independent developers of electric transmission projects, today congratulated Governor Murphy on his joint announcement with former Vice President Al Gore to increase the state’s offshore wind goal from 3,500 MW to 7,500 MW. “We applaud the Murphy Administration’s commitment to achieving 7,500 megawatts of offshore wind by 2035,” said Janice Fuller, President of New Jersey OceanGrid at Anbaric. “This aggressive new goal solidifies New Jersey’s place as a national leader in renewable energy and will spur an even more robust offshore wind industry here in the Garden State. Governor Murphy’s decision brings enormous benefits to New Jersey ratepayers, future generations and the environment.”
Today’s announcement also underscores the importance of an open access, planned transmission approach to the growth of the offshore wind industry. With planned transmission, the state will be able to accommodate this extraordinary growth while protecting its environment, its grid, and its ratepayers from the inefficiencies of piecemeal, one-project-at-a-time development. With open-access transmission, wind generators will be able to plug into a planned, efficient system that delivers more energy with less risk while protecting the environment. An open-access transmission system will create the industry competition necessary to reach a subsidy-free offshore wind future for New Jersey ratepayers.
The Senate Energy & Environment Committee voted yesterday to advance S3985, which would allow transmission only bids to be considered in the state’s offshore wind procurement process. Ultimately, S3985 would provide increased competition for future offshore wind solicitations, while still maintaining the Board of Public Utilities’ discretion in how to proceed with the development of offshore wind transmission infrastructure.
Anbaric is a majority employee-owned, US-based company focused on planning and scaling offshore transmission. The company is a partnership between the Anbaric partners and the Ontario Teachers’ Pension Plan, which as of June 30, 2019, had net assets under management of more than $152 billion. Anbaric helped spearhead the development of two buried 660 MW HVDC projects between PJM and theNYISO: the Neptune and Hudson Projects, which were delivered on schedule and on budget. Anbaric is committed to developing transmission systems for offshore wind in the US with a focus on Southern New England, New Jersey and New York as well as in Canada. For more information visit http://nj.anbaric.com/.