fbpx

Ørsted’s Ocean Wind Project wins BPU nod

NJBIZ STAFF//June 21, 2019

Ørsted’s Ocean Wind Project wins BPU nod

NJBIZ STAFF//June 21, 2019

The New Jersey Board of Public Utilities on Friday unanimously granted the state’s first award for offshore wind to Ørsted’s Ocean Wind project, giving the company the opportunity to build 1,100 megawatts of offshore wind in federal waters, according to the board.

The board says the offshore wind is expected to power about 500,000 New Jersey homes and generate $1.17 billion in economic benefits, in addition to creating an estimated 15,000 jobs over the project life.

The board says its decision sets the record for the single largest award for offshore wind in the country to date and marks further progress toward meeting the state’s goal of 3,500 megawatts of offshore wind by 2030. Gov. Phil Murphy envisions 100 percent clean energy for the state by 2050.

“Today’s historic announcement will revolutionize the offshore wind industry here in New Jersey and along the entire East Coast,” Murphy said in a statement. “Building our offshore wind industry will create thousands of jobs, invite new investments into our state, and put us on a path to reaching our goal of 3,500 MW of offshore wind by 2030. This award is a monumental step in making New Jersey a global leader in offshore wind development and deployment.”

v