Great Lakes Dredge & Dock Signs Milestone Subcontract for U.S. Offshore Wind Rock Supply Chain

Coming on the heels of President Biden’s visit to Philly Shipyard to witness the steel cutting of the nation’s first rock installation vessel for the domestic offshore wind market, Great Lakes Dredge & Dock has announced the first ever subcontract for the procurement of rock for a U.S. offshore wind farm.

Great Lakes Dredge & Dock (NASDAQ: GLDD) signed the subcontract with Carver Sand & Gravel, a U.S. quarry in the state of New York, as part of an effort to develop the first U.S. rock supply chain for offshore wind.

The rock will be quarried locally, transported to the Hudson River, and loaded onto Great Lakes’ rock installation vessel, the Acadia, which will sail to offshore wind farms to install the rock starting in 2025.

The rock produced will be used to provide scour protection for offshore wind turbine foundations, and substations at Equinor (NYSE: EQNR) and bp’s (NYSE: bp) Empire Wind I and Empire Wind II wind farms.

“This is a significant milestone for Great Lakes, our clients, Equinor, and bp, as well as Carver,” said Eleni Beyko, Great Lakes’ Senior Vice President, U.S. Offshore Wind, commented. “We have worked closely with Equinor and bp to develop this rock supply chain for the Empire Wind projects to deliver local content from the State of New York. With safety and quality as our top priorities, we will be supporting the local communities by creating local jobs and stimulating economic activity in the state of New York.”

GLDD ordered the Jones Act compliant Acadia, a Subsea Rock Installation Vessel, in 2021 for $197 million, marking Houston-based dredging company’s entry into the offshore wind market. The vessel is designed to transport and deposit up to 20,000 metric tons of rock on the ocean floor, laying the foundation for wind turbine monopiles. Delivery is planned in the fourth quarter of 2024.

Doreen Harris, President and CEO of the NY State Energy Research & Development Authority, highlighted the importance of strategic private-public partnerships in building the offshore wind industry in the U.S. and emphasized that the partnerships are not only crucial for delivering clean and renewable energy, but also for generating significant economic benefits and creating well-paying jobs.

“The subcontract between Great Lakes and Carver is a great example of how New York’s offshore wind projects, such as Equinor and bp’s Empire Wind, continue to drive industry firsts with major investments in existing New York businesses and workers that will build the American offshore wind supply chain providing a huge win for all involved,” said Harris.

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