Homecoming Capital, a zero-emission investor, has announced an initial commitment of US$50 million to Clean Energy Terminals (CET), a developer of offshore wind port infrastructure in the United States.
Under the agreement, CET will utilize Homecoming's investment to undertake early-stage development activities for a portfolio of new and revitalized offshore wind ports along the US east and west coasts.
These projects aim to address the crucial port infrastructure gap currently limiting the growth of the US offshore wind industry.
Led by CEO Brian Sabina and Chief Development Officer Jonathan Kennedy, CET was established with a focus on the pivotal role offshore wind ports play in facilitating clean energy generation, fostering long-term economic benefits, and creating local employment opportunities.
Sabina and Kennedy, former senior executives at the New Jersey Economic Development Authority, spearheaded the development of the $1 billion New Jersey Wind Port (NJWP), the nation's premier offshore wind marshalling and manufacturing port facility.
Leveraging their expertise, the CET team is committed to collaborating with public port authorities, harbor districts, and municipalities to develop port projects in a community-oriented and environmentally responsible manner.
Sabina expressed pride in partnering with Homecoming Capital, emphasizing the importance of port development for the offshore wind industry and broader energy transition goals. He highlighted Homecoming's investment approach, long-term vision, and alignment with CET's mission.
Cody Evans, Co-Founder and Partner at Homecoming, underscored the transformative impact of zero-emission infrastructure on accelerating the energy transition. He commended CET's potential to drive offshore wind deployment through the development of essential port infrastructure.
Evans praised the CET team's experience in navigating the intersection of private and public interests and their technical and commercial acumen, positioning them as leaders in offshore wind port infrastructure development.
