Agenda Test

New Jersey has ambitious targets for 7.5 GW of offshore wind by 2035 as part of the state’s masterplan to transition to 100% clean power by 2050. With major companies such as Ørsted and PSEG already working in New Jersey, developing the 1.1 GW Ocean Wind 1 project, and Ocean Wind 2 fast on its heels, we examine the investment opportunity in New Jersey.

A focus on the ongoing work involved in green hydrogen in New York State.

• Which offtake markets make the most sense for Green Hydrogen?
• How close are we to an electolyzer market with capacity to scale?
• How can you incorporate both solar/wind and green hydrogen in your investment portfolio?
• What’s the appetite from the debt market and cost of capital?

Offshore wind is the fastest-growing renewable power segment and is widely known as a proven source of energy. Yet the journey to becoming commercially viable was faced with challenges including high operating costs, strict environmental standards and immature construction techniques. These challenges have played an important role and provided valuable lessons learned when implementing onshore wind projects. Today’s panel will discuss best practices developed during offshore wind’s journey to maturity that can be applied to the onshore wind sector.

New York is becoming increasingly attractive for both onshore and offshore investment in solar, wind, green hydrogen and energy storage. A multi-gigawatt onshore renewables tender is on the cards for New York State with the announcement last week that NYSERDA is planning a minimum of 2GW of large-scale energy storage, solar and wind. Eligible projects will see 20-year subsidy contracts from the state. This pushes the state closer to its goal of 70% of power from carbon-free sources by 2030 and will see almost $3bn in fresh investment.

Real Estate is more than a physical space and is now an active participant in the energy market as a producer, consumer, and grid services provider. Significant investment is required in energy infrastructure but  is no longer about building energy bill savings but survivability.

• How will developers, real estate owners and tenants develop multi-decade power plans?
• Who will finance the infrastructure?
• Who and how to take advantage of opportunity and who will be loose?
• How electrification is not a building amenity but critical to the future of investment?

• How are supply chain disruptions impacting project timelines?
• What’s the effect of inflation and exchange rate on contracts?
• How are offtake structures evolving?

• How to find a balance for co-location and get a good site choice for power producing asset & battery
• Explanation of project design based on constraints and aims of the developer
• Intermission and grid connection decisions

• Which factors are being considered in greener investments? (Carbon footprint of technology, life-cycle analysis)
• How are banks and investors evaluating their portfolios?
• What are the priorities for banks in 2022?

• What can alternatives offer that lithium ion cant?
• What are the possibilities for better grid management and co-location with wind projects?
• Which utilities are looking at long duration, how would the market change with long duration capabilities?
• Where is fast ramping and inertia more favourable from a long duration asset?
• Are electrochemical batteries the best options for long duration currently?
• What needs to happen before long duration is commercially viable?