Project supported by the Union of New Jersey Unions, including the Eastern Atlantic Carpenters Regional Council, Operating Engineers Locals 825 and 25, and Iron Workers Local 399
The project is expected to bring over 1,000 jobs and $1.3 billion to the New Jersey economy
Project designed to strengthen New Jersey’s clean energy goals and minimize impact on communities and the environment
Projects backed by Blackstone, a proven long-term investor and operator in infrastructure, transmission and renewable energy
Princeton, New Jersey, December 1, 2021–(BUSINESS WIRE)–Atlantic Power Transmission LLC (“APT”), a portfolio company of Blackstone (NYSE: BX), has announced that it will participate in the 2021 New Jersey offshore wind SAA transmission solicitation. In response, it announced a tender to develop a clean power transmission solution. It was started by the New Jersey Public Utilities Commission in collaboration with his PJM Interconnection. In total, APT’s projects are expected to provide up to 3,600 MW of offshore wind power transmission solutions, providing more than his $1.3 billion in economic value to the New Jersey economy. The project is expected to provide clean offshore wind power to more than 1.5 million New Jersey homes, enabled by an underground clean energy corridor that connects to existing substations in central New Jersey.
APT prioritizes union labor and is affiliated with the New Jersey Federation of Unions, including the East Atlantic State Carpenters Regional Council, International Operating Engineers Local 825 and 25 and Ironworkers Local 399, to ensure the best skills and training in the region. I will bring you a merchant. Join us in this cutting-edge project to make unions the cornerstone of New Jersey’s clean energy program.
Commenting on the announcement, Sean Klimczak, Global Head of Infrastructure at Blackstone, said: A long-term partnership, we look forward to continuing this innovative and transformative clean energy development project. ”
William C. Sprull, Executive Director and Treasurer of the Eastern Atlantic Carpenters Regional Council, said: Bringing greater energy sustainability to our state. ”
IUOE 825 Business Manager Greg Lalevee said: The future of clean energy in New Jersey. ”
Richard Sweeney, President and Business Manager of Iron Workers Local 399, said: “
The entire project route will utilize underground power lines to minimize social and environmental impacts. The project aims to go onshore on existing industrial land and not disrupt New Jersey’s seaside communities.
APT CEO Andy Geissbuehler said: Jersey’s clean energy leadership. ”
Blackstone is committed to supporting renewable energy and working closely with our union partners. Since 2019, Blackstone has made nearly $10 billion of his investment, which is believed to coincide with a broader energy transition.
In September 2021, Blackstone announced that the Champlain Hudson Power Express (“CHPE”), a 339-mile underground transmission line between Canada and New York City, was selected by the New York State Department of Energy Research and Development to be part of a larger project. announced that it was He RFP process to deliver 1,250 MW of clean, renewable power to New York City. CHPE said he is expected to create 1,400 jobs, has pledged to utilize union workers, and has launched a new $40 million green economy fund that will provide job training for clean energy jobs. is included.
In November 2021, Blackstone portfolio company Altus Power, a leading clean electrification company, and Link Logistics, which operates the largest portfolio of strategic last-mile locations in the United States, will complete a community solar project of approximately 35 MW in New Jersey. I have placed an order. Together, Altus and Link will build and operate a portfolio of rooftop community solar projects, providing renewable energy to approximately 10,000 residential customers throughout New Jersey.
Blackstone is the world’s largest alternative asset manager. We aim to create positive economic impact and long-term value for our investors, the companies in which we invest and the communities in which we work. We help companies solve problems by leveraging excellent human resources and flexible funding. The firm’s $731 billion of assets under management include investment vehicles focused on private equity, real estate, bonds and equities, infrastructure, life sciences, growth equity, opportunistics, sub-investment grade credit, real assets and secondary funds. are included on a global basis. For more information, please visit www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
Blackstone Infrastructure Partner
Blackstone Infrastructure Partners actively invests in the energy, transportation, digital infrastructure, water and waste infrastructure sectors. We seek to apply long-term buy-and-hold strategies to large infrastructure assets, with a focus on providing stable long-term capital appreciation along with predictable annual cash flow yields. Our approach to infrastructure investment focuses on responsible management and stakeholder engagement to create value for our investors and the communities we serve.
Atlantic Power Transmission LLC (“APT”)
APT, a Blackstone Infrastructure Partners Portfolio Company headquartered in Princeton, New Jersey, is the developer of a planned transmission system along the East Coast of the United States to enable efficient interconnection of commercial-scale offshore wind farms. Dedicated to development, construction and operation.
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