US-based maritime, logistics and energy solutions company Crowley has set up an offshore wind joint venture with Morgan Stanley Investment Management (MSIM).<\/p>\n
Investment funds managed by Morgan Stanley Infrastructure Partners, a private fund platform within (MSIM), will hold a majority stake in the newly created Crowley Wind Services, while Crowley will operate the business.<\/p>\n
The companies said they would focus on repurposing and operating existing US port facilities and leasing them to offshore wind developers. The terminals will support manufacturing, assembly and storage of wind farm components, as well as provide developers with maritime services such as Jones Act-compliant feeder vessels to transport components from ports to offshore wind installations.<\/p>\n
\u201cWe believe port infrastructure is essential to the build-out and long-term maintenance of offshore wind projects and we are excited to partner with Crowley to provide the foundational infrastructure that will enable the development of this important industry,\u201d said Daniel Sailors, managing director of Morgan Stanley Infrastructure Partners. <\/p>\n
The Florida-based Crowley, founded in 1892, provides wind energy solutions for the US offshore wind industry, including port operations and terminaling, feeder vessels and operations, and project management.<\/p>\n
Through a public-private partnership with the Commonwealth of Massachusetts\u2019 Clean Energy Center and the City of Salem, Crowley plans to begin construction on the Salem wind services terminal<\/a><\/span>, which will support the development and operation of offshore wind lease areas off the northeast US coast. In addition, the company is pursuing the development of a US West Coast terminal<\/a><\/span> in Eureka, California, in a public-private partnership. Crowley also has a right-of-first-refusal agreement to lease and potentially develop a wind services terminal at Port Fourchon<\/a><\/span> in Louisiana.<\/p>\n \u201cThe partnership of our two companies will help lead the growth of the wind energy sector and provide clean, renewable energy for the US through high-quality maritime and logistics operations and services. Our collaboration will help create not just more value as a business, but cleaner, more sustainable energy for our communities,\u201d added Bob Karl, senior vice president and general manager of Crowley Wind Services.<\/p>\n