Morgan Stanley Investment Management’s private infrastructure platform, Morgan Stanley Infrastructure Partners (MSIP), and Crowley, a company specializing in logistics, marine, and energy solutions, have jointly announced the establishment of Crowley Wind Services Holdings. This new partnership is dedicated to advancing offshore wind energy solutions in the United States.
The primary focus of this joint venture is to repurpose and manage existing U.S. port facilities, which will be leased to offshore wind developers through long-term agreements. These facilities will support the production, assembly, and storage of components required for wind farms. Additionally, the terminals will offer maritime services, including the provision of vessels for transporting these components from ports to offshore wind installations. This initiative aligns with the United States’ plans to significantly expand offshore wind energy production, as part of a broader strategy to increase clean energy capacity. In 2021, the Biden administration set a goal of deploying 30 GW of offshore wind capacity by 2030, equivalent to the energy needs of more than 10 million American households for a year, and resulting in the avoidance of 78 million metric tons of CO2 emissions.
Bob Karl, Senior Vice President and General Manager at Crowley Wind Services, said:
“The partnership of our two companies will help lead the growth of the wind energy sector and provide clean, renewable energy for the U.S. 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.”
Daniel Sailors, Managing Director at MSIP, said:
“In our view, the U.S. offshore wind industry is in its early stages with ambitious goals to develop 30 gigawatts of capacity from offshore wind by 2030 and unlock a pathway to 110 gigawatts by 2050. We 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.”