Connecticut Set to Join in $70 Billion Offshore Wind Expansion

Teun van den Dries / Shutterstock

By Christopher Martin (Bloomberg) — Connecticut is set to massively increase investment in offshore wind after the state Senate passed a bill to require utilities to buy as much as 2 gigawatts of the renewable energy source, equivalent to almost a third of the state’s electricity needs.

The bill passed unanimously in the Senate late Tuesday and now heads to Governor Ned Lamont, according to the Senate’s website. If he signs it, regulators will have 14 days to produce a plan to solicit bids from developers. Previously, the state planned to buy 300 megawatts of offshore wind.

Connecticut will be joining New York, New Jersey and Massachusetts in leading the effort to build a $70 billion offshore wind industry along the Atlantic seaboard, transforming the way the region gets its electricity. Combined, they have plans to add more than 25 gigawatts over the next 15 years.

Vineyard Wind LLC, a developer building an 800-megawatt wind farm off the coast of Massachusetts, plans to invest millions of dollars into Bridgeport harbor if selected to supply power to the state, according to an emailed statement.

Lamont has said he supports offshore wind development to reduce carbon emissions. Last month, the governor outlined plans for a $93 million upgrade to the State Pier in New London to create a hub for construction with offshore wind developer Orsted A/S.

© 2019 Bloomberg L.P

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up