Murphy Tagged $1 Billion of Ratepayer Subsidies to Bailout Failed Foreign Wind Energy Corporation
Senator Michael Testa recently addressed the withdrawal of Ørsted, a Danish wind energy company, from the Ocean Wind 1 & 2 offshore wind farm projects in New Jersey. Testa’s comments highlighted the complexities and controversies surrounding the state’s investment in green energy. Testa criticized the allocation of state funds, including a $1 billion investment in Ørsted’s projects, as a burden on taxpayers and ratepayers. He described the investment as “a drop in the ocean,” underscoring his view that the funds were insufficient to achieve the intended goals. Additionally, Testa expressed concern about the establishment of a $5 million wind institute, which he perceives as a “propaganda arm” of the wind industry. >>click to read<< 14:50
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