Department of Energy Pulls the Funding Plug from Fishermen’s Energy Wind Project

The U.S. Department of Energy says Fishermen’s Energy failed to meet a Dec. 31 deadline to have a power purchase agreement in place. The department is revoking most of the $47 million in funding it pledged to the project in 2014; about $10.6 million has been spent already on preliminary work. In a written statement to The Associated Press on Tuesday, the energy department said the Atlantic City project missed a key deadline. “Under the Energy Department’s award, Fishermen’s Energy must have secured a power offtake agreement by December 31 to be eligible for another round of funding,” the department said. “The criteria were not met by that date, so we have initiated the close-out process for the project.” Company CEO Chris Wissemann said Fishermen’s Energy hopes a last-ditch effort to secure a power deal will succeed. Read the story here 17:59