Boston When Toronto, December 7, 2022 /PRNewswire/ — Ocean Winds (OW) and Canada Pension Plan Investment Board (CPP Investments) announced that their newly formed offshore wind joint venture, Golden State Wind, has been awarded an 80,418-acre lease area by the U.S. Ocean Energy Administration. We are happy to announce that management (BOEM) Morro Bay area off the central coast of California.
Credit: Ocean Winds
The awarded lease area, OCS-P 0564, is one of five sites off the coast of America. California It was the subject of an auction held by BOEM. The auction is particularly notable as it is the first floating offshore wind lease sale in the country and the first offshore wind lease sale of any kind on the West Coast.
OW has over 10 years of experience in offshore floating wind farms and is particularly known through the development and operation of Windfloat Atlantic, the world’s first fully commercially operational floating offshore wind farm. OW has a substantial portfolio of water projects Europe When Korea And we are ideally positioned to bring this technology into the Golden State.
The winning bid for Golden State Wind lease area OCS-P 0564 is $150.3 million, OW and CPP Investments each maintain a 50% investment in the project. When fully constructed and operational, the leased area will be capable of accommodating approximately 2 GW of offshore wind energy, generating enough energy to power the equivalent of 900,000 homes.This will allow the United States and California The US is on track to have 15 GW of floating offshore wind by 2035 and 5 GW of clean energy by 2030 in the US. California – Build new domestic industries, create jobs for Californians, and boost the local economy.
OW and CPP Investments Commit Investment as Part of Golden State Wind Auction $30 million Work closely with key local stakeholders on workforce development and supply chain initiatives to maximize benefits. California From the emerging offshore wind industry.
Michael BrownCEO of Ocean Winds North Americasaid: Portugal, France, Korea, and the UK – and we are ready to bring our expertise to the US as well. OW is currently actively developing approximately 4 GW of projects already in the Northeastern United States, further expanding the company’s portfolio and contributing to the federal government’s ambitious floating offshore wind goals It’s a great opportunity. He is pleased to partner with CPP Investments on this project. We believe this is the beginning of a strong relationship that may extend to future projects in other regions. ”
Bruce HoggManaging Director and Head of Sustainable Energy at CPP Investments, said: Reduce carbon emissions across the portfolio while continuing to deliver strong long-term risk-adjusted returns to fund shareholders and beneficiaries. ”
CPP Investments’ Sustainable Energies group operates across the global energy system and has a total net worth of approximately 30 billion Canadian dollars Current September 30, 2022including investments in renewable energy, utilities and power generation.
For more information about Ocean Winds North America and its projects, please visit https://www.oceanwinds.com/north-america/.
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About OW
Ocean Winds (OW) is an international company focused on offshore wind energy, established as a 50/50 joint venture owned by EDP Renewables and ENGIE. Driven by the belief that offshore wind energy is an integral part of the global energy transition, OW develops, finances, builds and operates offshore wind projects around the world.
When EDP and ENGIE combined their offshore wind assets and project pipeline to create OW in 2019, the company had a total of 1.5 GW under construction and 4.0 GW under development. OW is rapidly adding to its portfolio and is now on track to reach its 2025 target of 5-7 GW projects in operation or under construction and 5-10 GW projects in advanced development. I’m here. In 2022, OW’s total offshore wind capacity, already in operation, contracted or grid-connected, will reach 16.6 GW.
OW, Headquarters Madridcurrently present in 8 countries, mainly targeting the following markets Europe, usaselected part AsiaWhen Brazil.
About CPP Investments
The Canada Pension Plan Investments™ (CPP Investments™) is a professional investment management organization that manages the fund in the best interest of the 21 million contributors and beneficiaries of the Canada Pension Plan. Investments are made globally in public and private equity, real estate, infrastructure and fixed income to build a diversified portfolio of assets.Head office location Torontowith office Hong Kong, London, Luxembourg, Mumbai, new york city, San FranciscoSao Paulo, sydney, CPP Investments is managed and controlled independently of the Canada Pension Plan and independently of the Government.and September 30, 2022total funds 529 billion Canadian dollarsFor more information, visit www.cppinvestments.com, LinkedIn, Facebook, or twitter.
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