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EnCap Investments Betting on Bleutec Industries' New Approach to Offshore Wind Installation Vessels

Offshore Wind, Jones Act
December 13, 2022

As reported by MarineLog, Texas-based energy fund, EnCap Investments, is betting on U.S. startup Bleutec Industries’ innovative approach to Jones Act restrictions for WTIVs operating in U.S. coastal waters. The company’s Binary Marine Installation Solution (BMIS) concept further bifurcates wind turbine installation by separating the piling installation and the wind turbine installation. Bleutec appears to believe that this will allow it to get Jones Act-qualified ships into the water faster and cheaper than traditional wind turbine installation vessels (WTIVs). The Charybdis, Dominion Energy’s Jones Act-qualified WTIV, will cost at least around $500 million when she eventually hits the water in December 2023. Offshore wind firms with projects along the East Coast are increasingly keen to get access to vessels capable of completing the growing number of U.S. offshore wind projects.

The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.


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