Vineyard Wind Signs Terminal Lease

October 23, 2018

NEW BEDFORD – One of the first steps in the actual construction of the planned 800 megawatt wind farm planned for south of Martha’s Vineyard was completed yesterday with the signing of a lease for the New Bedford Marine Commerce Terminal.

The Marine Commerce Terminal is a 29 acre heavy lift facility designed to support construction efforts for offshore wind projects, it rivals other high capacity facilities worldwide.

“The historic and bipartisan energy legislation we passed in 2016 created a competitive procurement process that put Massachusetts in position to host the first large-scale offshore wind project in the United States and be a national leader for this emerging industry,” said Governor Charlie Baker.

“With this agreement, Massachusetts workers and the South Coast to help lead this new frontier for American energy and establish a hub for offshore wind development on the East Coast.”

The lease agreement between MassCEC and Vineyard Wind represents a commitment to an 18^th month lease at $6 million annually to use the terminal as the primary staging and deployment location for its offshore wind project.

In April, MassCEC released a report on the workforce needs and economic impact of the emerging offshore wind industry, finding that the deployment of 1,600 MW of offshore wind is estimated to support between 6,870 and 9,850 job years over the next ten years and generate a total economic impact in Massachusetts of between $1.4 billion to $2.1 billion.

“Vineyard Wind has made the Port of New Bedford and the New Bedford Marine Commerce Terminal a centerpiece of our proposal to build and operate an 800-megawatt wind farm off the coast of Massachusetts because we truly understand the importance of the excellent port infrastructure and an existing supply chain that’s available right here, ready to help make offshore wind a lasting success,” said Vineyard Wind CEO Lars Thaaning Pedersen.

“Vineyard Wind’s initial investment and the Commonwealth’s commitment to clean energy will pay enormous dividends, in particular creation of a robust, sustainable supply chain that will stimulate new jobs and economic activity here on the South Coast.”