Homecoming Capital invests $50 Million in CET to boost offshore wind ports
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/05/New_Jersey_Wind_Port_copy_Main.jpg)
Homecoming Capital, an investor in zero-emission infrastructure, announced its initial $50 million deal with Clean Energy Terminals (CET), a US-based offshore wind port infrastructure development company.
CET plans to use the investment to execute early-stage development work on a portfolio of new-build and redeveloped offshore wind ports.
CET’s projects aim to address the critical port infrastructure gap currently constraining the US offshore wind industry.
Read more: First US-built boat for maintaining offshore wind farms is all set to launch
Brian Sabina, Chief Executive Officer, CET, said, “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.”
She acknowledged the partnership with Homecoming and said its long-term investment horizon, hands-on approach to working with management teams, and understanding of infrastructure make it a great fit for CET.
Since its establishment in 2019, Homecoming Capital has invested in companies within the power, transportation, and industrial sectors that are reshaping the economy with zero-emission infrastructure.
Past investments include:
- Participating in the privatization of Fjord1.
- Norway’s leading electric ferry operator
- Committing over $100 million to Forum Mobility, a California-based provider of zero-emission trucking solutions.
Its investment in CET marks its debut in the offshore wind market, and the firm is ready to provide additional capital as CET’s project portfolio develops.
Cody Evans, Co-Founder and Partner at Homecoming said, “As partners to industry-leading teams, we see firsthand the significant impact zero-emission infrastructure has on accelerating the energy transition. By developing the ports necessary to enable offshore wind, CET is poised to accelerate gigawatts of offshore wind deployment in the years to come.”
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