ALBANY, N.Y. (NEWS10) — A multinational energy company has proposed installing the nation’s first offshore wind tower manufacturing facility at the Port of Albany. On Thursday, Norwegian company Equinor announced its intention to develop the Capital Region’s major port on the Hudson River as the site of a massive renewable energy project.

Equinor says it would directly create up to 350 jobs as early as the second half of 2021 by transforming the port. The construction of such a facility could provide an immediate economic boost to the area, with operations potentially sustaining hundreds of jobs for decades.

“The port is the ideal location to build these components and we are excited about the prospect of the area becoming a manufacturing hub for offshore wind,” said Katie Newcombe, Chief Economic Development Officer for the Center for Economic Growth. “With the ongoing expansion of offshore wind power on the East Coast, the Port of Albany would become a natural destination for future projects to source components. The economic potential for the NY Capital Region is enormous.”

The New York State Energy Research and Development Authority (NYSERDA) sent out a call for proposals, seeking up to 2.5 gigawatts of offshore wind and multi-port infrastructure investment plans. Equinor’s Port of Albany extension initiative is one part of their bid. Developing the proposed manufacturing facility depends on NYSERDA’s selection process.

“With this latest solicitation, New York solidifies its commitment to renewable energy and its desire to make the offshore wind industry an important component of the state’s economy,” said Siri Espedal Kindem, President of Equinor Wind U.S. “Equinor is excited about the possibility of expanding its business within New York, and this plan would create the first facility for offshore wind tower and transition piece manufacturing in the U.S. Our proposal helps secure New York and the Port of Albany as a regional leader in this exciting new industry.”