This past year, we held our Fourth Annual Pacific Offshore Wind Summit in Sacramento on May 13-15, 2024. That event brought together more than 700 state and federal officials, industry leaders, and other stakeholders, and helped mobilize support and build momentum for California to meet its ambitious planning goals to generate up to 5 gigawatts (GW) from offshore wind by 2030 and a nation-leading 25 GW by 2045.
We are thrilled to bring the Summit back to Sacramento for another year in 2025. There is no other offshore wind event that offers as much access to California state and federal officials, industry leaders, and other stakeholders, all under one roof.
Since our last gathering, California offshore wind has continued to make important strides on the essential next steps to bring this important clean-energy resource online. Most notable were the California Energy Commission's (CEC) approval of the AB 525 strategic plan and the proposed decision by the California Public Utilities Commission to set an interim target of 7.6 GW by 2035 to procure offshore wind at scale.
To advance port infrastructure for offshore wind, the California Legislature also approved legislation to include $475 million for ports and offshore wind in a new $10 billion climate bond to go on the November ballot. And this past spring, the California Independent System Operator approved its 2023-24 Transmission Plan including $4.6 billion in transmission upgrades for offshore wind on the state's North Coast.
California offshore wind is clearly on a roll. We're setting a course to meet the state's commitment to make this important renewable-energy resource a key part of California's clean-power portfolio to meet its ambitious climate, clean-energy, and grid-reliability goals.
At the 2025 Summit, we'll focus on the next set of vital actions California must take to implement the new AB 525 strategic plan and its planning goals for up to 5 GW of floating offshore wind by 2030 and 25 GW by 2045. These include investments in port upgrades and transmission, procuring at scale, following a clear permitting roadmap, engaging key stakeholders to protect our cultural and marine resources, establishing a robust supply chain and workforce training, and identifying suitable sea space to reach 25 GW - which the CEC outlined in its AB 525 strategic plan. At the Summit, we'll also examine how California can move forward to be a global leader and hub for floating wind development, jobs, and expertise - in the Pacific Rim and beyond.
We're excited to have you join us May 19 - 21, 2025 at the SAFE Credit Union Convention Center, where you'll be able to meet industry leaders, developers, policymakers, government representatives, and consultants, and hear about the latest updates from those who are advancing offshore wind and shaping California's clean-energy future. We look forward to seeing you again in Sacramento!