Ørsted pulled out of NJ. What comes next for wind power at the Jersey Shore?

After Ørsted, Danish energy company, announced in October that it would pull out of the billion-dollar project to build wind turbines off the New Jersey coast, there was discussion about what would come next for clean energy development in the Garden State. Gov. Phil Murphy announced that the state’s Board of Public Utilities would seek another wind energy company in early 2024 and engage in contracts in early 2025. Why did Ørsted drop its New Jersey projects? The company ended development of the Ocean Wind 1 and 2 projects, which were supposed to be built off the coast of Atlantic City. Two other projects, one by Avangrid and another by SouthCoast, a joint venture of Shell and Ocean Winds North America,  were also canceled earlier this year in Massachusetts, forcing the companies to pay penalties of $48 million and $60 million, respectively. >>click to read<<10:48

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