Latest news with #LSGreenlinkUSA
Yahoo
30-04-2025
- Business
- Yahoo
Virginia Beach, a planned offshore wind energy hub, hosts international conference
Offshore wind professionals from across the world have gathered in Virginia Beach to discuss the current status of the renewable power industry. As part of the 2025 International Partnering Forum, or IPF, the conference brings together developers, elected leaders, public utility officials and others in the offshore wind supply chain for a week of panel discussions. On Tuesday, Virginia Beach Mayor Bobby Dyer welcomed guests to the city, which hosts the Coastal Virginia Offshore Wind project about 27 miles away from the beach. Once finished, more than 170 turbines are slated to generate enough energy to power up to 660,000 homes. The project will help avoid carbon emissions equivalent to 1 million cars each year, according to the company. It's scheduled to be completed in 2026. Dyer said he and other members of city leadership are positioning Virginia Beach to become 'one of the main offshore wind energy hubs' in the United States. 'Just as winds have filled the sails of ships and transported them around the world — since the earliest ages of man — we are now harnessing that energy to provide for local governments, towns, cities, homes and businesses around the world,' Dyer said. 'When you look at the Atlantic Ocean and Virginia Beach, we are a natural fit for offshore wind development. Our mid-Atlantic location places us in the center of the American offshore wind industry. In fact, I'll go so far to say that if you look at Virginia Beach, you're looking at the heart and future of all wind energy in this United States.' Liz Burdock, president and CEO of Oceantic Network, said recent strains on offshore wind have been 'unsettling and unprecedented and deeply unfair.' Since his inauguration, President Donald Trump has put offshore wind in the political crosshairs. At least one project has been issued a stop-work order from the federal government. Earlier this year, Trump signed an executive order temporarily halting offshore wind lease sales in federal waters and pausing the issuance of approvals, permits and loans for all wind projects. Burdock said working with Republican lawmakers, like Dyer and Gov. Glenn Youngkin, is crucial to the future of the industry. On Monday, undersea cable company LS Greenlink USA broke ground on its $680 million development in Chesapeake as part of the week's festivities. The 750,000-square-foot plant is expected to create more than 330 full-time jobs. Burdock added that she hopes this week's conference will 'unlock the full force' of the industry's creativity and potential. 'We can bring a new generation online,' Burdock said. 'If there is an energy crisis, it's one of our own making. By holding back offshore wind, our federal government denies the nation a true all-of-the-above energy strategy. If we're allowed to move forward, we could have 10 gigawatts on the grid by the end of the decade and another 10 gigawatts ready to go. That's reliable base load power coming directly into our cities that will actually lower energy bills. Just like it's doing here in Virginia, it will also keep utility bills in check in New York and New England.' Eliza Noe,
Yahoo
29-04-2025
- Business
- Yahoo
Construction begins on massive underwater cable plant in Chesapeake
A multimillion-dollar underwater cable factory in Chesapeake has officially broken ground, adding another part of the offshore wind supply chain to Hampton Roads. The 750,000-square-foot plant — part of a $680-million investment by LS Greenlink USA, a subsidiary of South Korean-based LS Cable & System — is expected to create more than 330 full-time jobs. According to public records, LS GreenLink USA purchased the 96.62 acres of land adjacent to the Southern Branch Elizabeth River in Chesapeake from International Bio-Energy Virginia Real Estate LLC for an undisclosed amount. Koo Bon-kyu, president CEO of LS Cable & System, said the plot has 'plenty of room to expand' the plant for future phases. 'Years ago, people were talking about Virginia as a victim of sea-level rise or a victim of climate change,' said Sen. Tim Kaine. 'Those facts may be accurate, but nobody wants to be the recipient of problems. We want to be the innovator. We want to be the winner. Whether its LS Greenlink here in Chesapeake or the complete electrification of the cranes at the Port of Virginia, … (renewable energy projects) are moving Virginia into a leadership position.' The plant is expected to be fully operational by the first quarter of 2028. Gov. Glenn Youngkin said the collaboration between economic development officials in Virginia and Chesapeake has been working with counterparts in Korea for years to get the plant to the commonwealth. He approved a $13.2 million grant from the Commonwealth's Opportunity Fund to assist the city of Chesapeake with the project. The company is eligible to receive state benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program. He also said the well-paying jobs will be a good asset to the state's economy. The company will also receive $99 million in tax credits from the Inflation Reduction Act of 2022. 'At the beginning of all of this, it took vision,' Youngkin said. The tower for the facility is expected to be 660 feet. It would be tallest building in Virginia, exceeding the height of the The Westin Virginia Beach Town Center, which stands at 508 feet. In October, the Chesapeake City Council voted unanimously to approve a conditional use permit for the height exception. The plant's tower is needed because as the cables are made, gravity helps center the core of the cable. Once produced, the cables are stored in spools and loaded onto ships directly from the pier that's located on the project site, where they can then be shipped out for offshore wind energy projects across the globe. Koo said many of the company's first contracts will be for offshore wind projects in Europe. While the city has no direct influence on recent tariff policy by the Trump administration, Chesapeake Mayor Rick West said he is working on letters and op-eds regarding the issue. Koo said while there is some concern about how tariffs on copper could affect business, the company could adjust pricing on products or take other risk management strategies to address rising costs. 'We're working very closely with our regional organizations as well as the state of Virginia Economic Development Partnership to truly understand what the impact of tariffs will be,' said Steven Wright, economic development director for the city of Chesapeake. ' At every step along the way, we will try to minimize the impacts (of tariffs) on this project.' Eliza Noe,
