Homecoming Capital bets on OSW ports developer CET

Homecoming Capital has committed to making an initial investment of USD 50 million (EUR 46m) in US offshore wind (OSW) port infrastructure developer Clean Energy Terminals (CET) to help it advance its project pipeline.

The funds will go to support early-stage development work on a portfolio of newbuild and redeveloped ports along the US east and west coasts, a press statement said on Wednesday.

CET marks Homecoming’s first investment in the OSW market. The investor has already expressed readiness to provide additional capacity as the portfolio matures.

Valencia, California-headquartered CET specialises in the development of onshore infrastructure for manufacturing, marshalling and maintaining equipment used in offshore wind projects. The company is led by CEO Brian Sabina and CDO Jonathan Kennedy, who previously headed the development and construction of the New Jersey Wind Port (NJWP), the country’s first purpose-built OSW marshalling and manufacturing port facility.

“With the US targeting 110 GW of OSW capacity by 2050, including 15 GW of floating wind by 2035, demand for both port infrastructure and the capital required to build it has never been greater,” Sabina noted in the press release.

(USD 1 = EUR 0.921)

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