CPA Announces P3 Investment in State Pier
Connecticut Port Authority and Governor Lamont announced $93 million public-private investment in State Pier to develop Connecticut into the center of New England’s offshore wind industry.
May 2, 2019 was a historic day for job creation and economic growth across southeastern Connecticut.
The Connecticut Port Authority, Gateway Terminal, Eversource and Ørsted announced a partnership to revitalize State Pier and establish New London as a major northeast center for the growing offshore wind industry.
The new Harbor Development Plan for State Pier will include an estimated $93 million in infrastructure improvements to revitalize the facility to meet heavy lift requirements of offshore wind operations. The Connecticut Port Authority will oversee the project, with construction beginning in January 2020. The project is anticipated to be completed in March 2022 and will be followed by a 10-year lease of State Pier by Orsted and Eversource.
The State has committed $35.5 million for State Pier infrastructure improvements, including $25.5 million from the CPA, as previously announced, and $10 million in new funding from the Department of Economic and Community Development through the Manufacturing Assistance Act.
The joint venture between Ørsted and Eversource has committed $35 million for infrastructure improvements, in addition to honoring the $22.5 million previously committed for State Pier infrastructure.