Danish wind farm developer Orsted will pay New Jersey $125 million to settle claims over the company’s cancellation of two offshore wind farms last year.
Land-based wind turbines spin in Atlantic City. N.J., on Nov. 3, 2023. On Tuesday, April 30, 2024, New Jersey utility regulators opened a fourth round of solicitations for new offshore wind farm proposals to join the three that already have preliminary approval. Land-based wind turbines spin in Atlantic City. N.J., on Nov. 3, 2023.
Before the projects were abandoned, Orsted put up a $100 million guarantee that it would have one of them, Ocean Wind I, built by the end of 2025. It also had been obligated to pay an additional $200 million toward the development of the offshore wind industry in New Jersey.Orsted, in a statement to The Associated Press, said it is “pleased” with the settlement, which it said represents the company’s total financial obligation to the state.
The settlement announcement was one of several that the administration of Democratic Gov. Phil Murphy made Tuesday regarding offshore wind.
Rsted AS Government Programs General News NJ State Wire U.S. News A F Utilities N Business Climate And Environment Politics Climate
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Jersey earthquake: 2.6 magnitude earthquake rattles parts of New Jersey, PennsylvaniaThe month of May started with a rumble for people in parts of New Jersey and Pennsylvania after a minor 2.6 earthquake was reported Wednesday morning.
Read more »
Associate or Senior Editor, Communications Medicine - Jersey City, New Jersey job with Springer Nature LtdJob Title: Associate or Senior Editor, Communications Medicine Location: Philadelphia, New York, Jersey City, Washington DC (Hybrid Working) Closing date: May 19th, 2024 Nature Portfolio is the world’s leader in publishing high-quality research from across the natural sciences, and is rapidly expanding its footprint in medical...
Read more »
Best US states: Pennsylvania, New Jersey, Delaware ranked in new studyHere's how Pennsylvania, New Jersey and Delaware ranked among all 50 states in U.S. News & World's 'Best State Rankings' for 2024.
Read more »
Habitat for Humanity empowers women to build 2 new homes in Perth Amboy, New JerseyEach day, from now until May 17, women from various businesses and organizations will spend a day working on the Habitat for Humanity homes in Perth Amboy, as a part of Women Build 2024.
Read more »
Joe Milton III Selects New Jersey Number With New England PatriotsFormer Tennessee Volunteers quarterback Joe Milton IIi has taken a new number with the New England Patriots.
Read more »
Trump again attacks New York prosecutor, floats economic plans at New Jersey rallyTrump again attacks New York prosecutor, floats economic plans at New Jersey rally
Read more »