- Builds off APT’s previously announced $50 million pledge to
workforce development in New Jersey
- Morrison to establish a base in New Jersey; local fabrication
of 5,000-ton substation foundation jackets, a first for the East
Coast; train and credential Garden State union workers in new
skilled tasks
- Project backed by Blackstone, a proven long-term investor and
operator in infrastructure, transmission and clean energy
Atlantic Power Transmission LLC (“APT”), a Blackstone (NYSE: BX)
portfolio company, today announced its partnership with Morrison
Energy (“Morrison”) to position New Jersey as a global leader in
rapidly developing offshore wind energy generation and transmission
supply chain. The combined collective expertise of APT, Morrison
and Blackstone collaborating on this landmark initiative
underscores APT’s long-standing commitment to investing in New
Jersey’s workforce and kicks off an exciting chapter in the East
Coast’s clean energy transition.
As part of the agreement, Morrison will have a dedicated
presence in New Jersey, adding leading industry expertise while
supporting APT’s commitment of $50 million over 10 years to support
workforce development investment in New Jersey via the fabrication
of 5,000-ton substation foundation jackets. Union workers will
receive training in a unique skill set, embodying Blackstone’s
approach to working with local workforces and communities. The
fabrication facilities will bring hundreds of jobs to New Jersey
and will lay the foundation for future projects in the state.
APT will initiate this investment into the New Jersey workforce
upon award of its bids to provide transmission supporting the
delivery of 3,600MW of offshore wind power to the existing
electrical grid under the New Jersey Offshore Wind SAA Transmission
Solicitation initiated by the New Jersey Board of Public Utilities
and PJM Interconnection.
The commitment contributes to the creation of a workforce hub
for the burgeoning offshore wind industry in the Northeast region
and the state, addressing one of the recommendations outlined by
the New Jersey Offshore Wind Strategic Plan.
“Morrison is a leader in the energy sector, with an exceptional
management team. I’m thrilled to work alongside Chet Morrison and
Kirk Meche, who bring four decades of experience as thought leaders
in the energy industry,” said Andy Geissbuehler, CEO of APT.
“Partnering with Morrison will bring the industry expertise needed
for this project and invest in training our local workforce to
secure New Jersey’s position as a wind leader for decades to
come.”
APT actively partnered with the New Jersey Union Coalition in
support of the bids and will continue to further expand the
existing partnership that APT and Blackstone have with labor. The
project’s broad-based New Jersey Union Coalition includes the
Eastern Atlantic States Regional Council of Carpenters,
International Union of Operating Engineers Locals 825 and 25, Iron
Workers Local 399 and International Brotherhood of Electrical
Workers Local 456.
“The EAS Carpenters are encouraged by how APT and Morrison have
seized this opportunity and are focused on plans to train and
prepare New Jersey’s highly skilled tradesmen and women for future
industries in our state,” said William C. Sproule, Executive
Secretary-Treasurer of the Eastern Atlantic States Regional Council
of Carpenters. “Our union has been committed for over a century to
training the most skilled construction workers in the country,
highlighting that fact by the recent expansion of our existing
Hammonton, New Jersey, training center and opening the first union
dive school in the country to meet the needs of the new offshore
wind industry. The additional relationship of the EAS Carpenters
with preferred partners APT and Blackstone will bring opportunity
to New Jersey skilled tradesmen and women for years to come.”
Commenting on the partnership, Morrison’s Chief Executive
Officer Chet Morrison said, “Morrison is committed to the
development of offshore wind energy in the United States by
supporting APT’s partnership in developing New Jersey’s union
workforce with skilled workers who can propel the New Jersey wind
energy sector forward for decades to come.”
Greg Lalevee, Business Manager of the International Union of
Operating Engineers Local 825, remarked, “APT and Blackstone have
been the ideal partners not only to IUOE 825 but New Jersey labor
generally. They have proactively sought opportunities to train and
credential our collective brotherhood in the skills needed for the
transition to offshore wind. We are excited to collaborate with APT
and Morrison on this new, groundbreaking initiative.”
Kurt Summers, Head of Public-Private Partnerships at Blackstone
Infrastructure, commented, “We are thrilled to partner with
Morrison and New Jersey’s labor force to anchor a transformative
initiative that would provide jobs and accelerate the development
of the local clean energy supply chain to make New Jersey the
center of the offshore wind industry on the East Coast.”
In December 2021, APT announced its bid to develop a clean power
transmission solution in response to the 2021 New Jersey Offshore
Wind SAA Transmission Solicitation initiated by the New Jersey
Board of Public Utilities. The partnership between APT and Morrison
will be executed upon award of APT’s bid to provide transmission to
deliver 3,600MW of offshore wind power to the existing electrical
grid under the New Jersey Offshore Wind SAA Transmission
Solicitation initiated by the New Jersey Board of Public Utilities
and PJM Interconnection. Since 2019, Blackstone has committed over
$16 billion in investments that it believes are consistent with the
broader energy transition.
APT's comprehensive transmission solution is expected to
generate $1.5 billion in economic benefits to New Jersey, including
enabling 1,000 direct jobs annually during five construction years.
Beyond these quantifiable benefits, APT and the New Jersey Union
Coalition are working to establish New Jersey's industry leadership
by focusing on maximizing local manufacturing opportunities,
including working with local companies and building components
in-state.
About Blackstone
Blackstone is the world’s largest alternative asset manager. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $941 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity,
infrastructure, life sciences, growth equity, opportunistic,
noninvestment-grade credit, real assets and secondary funds, all on
a global basis. Further information is available at
www.blackstone.com. Follow @blackstone on LinkedIn, Twitter and
Instagram.
Blackstone Infrastructure Partners
Blackstone Infrastructure Partners is an active investor in
energy, transportation, digital infrastructure, and water and waste
infrastructure sectors. We seek to apply a long-term buy-and-hold
strategy to large-scale infrastructure assets with a focus on
delivering stable, long-term capital appreciation together with a
predictable annual cash flow yield. Our infrastructure investment
approach focuses on responsible stewardship and stakeholder
engagement to create value for our investors and the communities we
serve.
Atlantic Power Transmission LLC (“APT”)
APT is a Blackstone Infrastructure Partners portfolio company
headquartered in Princeton, New Jersey, and is dedicated to
developing, constructing and operating planned transmission systems
along the U.S. East Coast to enable efficient interconnection of
commercial-scale offshore wind facilities.
Morrison Energy (Morrison)
Morrison, headquartered in Houma, Louisiana, has over 39 years
of experience serving as a preferred contractor and fabricator for
many leading energy companies. With U.S. and international
fabrication experience, Morrison is well positioned to construct
substation foundation jackets and ancillary components for
large-scale projects.
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version on businesswire.com: https://www.businesswire.com/news/home/20220803005629/en/
Paula Chirhart Paula.Chirhart@Blackstone.com 347-463-5453
Kelly M. Reeves kreeves@morrisonenergy.com 985-858-3112
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