The state’s Board of Public Utilities says the state and Orsted have settled claims against each other stemming from the company’s decision last October to scrap two wind farms off New Jersey's southern coast.
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 — a little over a third of what the company once was required to pay.The state's Board of Public Utilities said Tuesday that New Jersey and Orsted have settled claims against each other stemming from the company's decision last October to scrap two wind farms off the state's southern coast.
"They are being let off the hook, paying less than half, with New Jersey losing $175 million. This is a bad deal for New Jersey."The settlement announcement was one of several that the administration of Democratic Gov. Phil Murphy made Tuesday regarding offshore wind.The state said it is moving up the next solicitation for additional offshore wind projects from the third quarter of 2026 to the second quarter of 2025. New Jersey's current round of solicitations closes on July 10.
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 and wind farm developer Orsted settle claims for $125M over scrapped offshore projectsDanish 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.
Read more »
New Jersey and wind farm developer Orsted settle claims for $125M over scrapped offshore projectsDanish 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.
Read more »
New Jersey and wind farm developer Orsted settle claims for $125M over scrapped offshore projectsDanish 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.
Read more »
New Jersey and wind farm developer Orsted settle claims for $125M over scrapped offshore projectsDanish 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
Read more »
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 »
New Jersey to receive $125M payout in dispute over cancelled offshore wind farmsDanish wind developer Orsted will pay $125 million to the state of New Jersey to settle claims over the cancellation of two proposed offshore wind farms.
Read more »