New Lease Agreement for a New Jersey Wind Port
A 78 Year Lease Deal Between NJEDA and PSEG
A land lease term for 78 years was signed and announced for the new, New Jersey Wind Port in Salem County by the New Jersey Economic Development Authority (NJEDA) and Public Service Enterprise Group (PSEG).
The port that will also assist with U.S. east coast staging, assembly and other manufacturing that coincides with offshore wind projects.
An artificial island near the Delaware eastern shore will be home to the port which happens to be one of the only few ports capable of offshore wind turbine marshalling and manufacturing.
NJEDA chief executive officer Tim Sullivan stated, “The New Jersey Wind Port is a transformational investment that will create hundreds of good jobs and drive billions of dollars of economic activity in South Jersey and throughout the State.”
