New Jersey Gov. Phil Murphy signed a bill Thursday giving a tax break to Danish offshore wind developer Orsted for the first of two energy projects it plans to place in the waters off the Jersey Shore.
“If we don’t figure out a solution, this doesn’t get done in New Jersey,”said after the ceremony at the Paulsboro Marine Terminal, where the huge supporting structures for wind turbines, called monopiles, are manufactured. “We know war in Europe, inflation, supply chain - these projects have gotten a lot more expensive, and we’re not the only place that’s dealing with that.
Neither the company nor Democratic lawmakers listed the value of the tax break, but a Republican state senator, Edward Durr, put it at nearly $1 billion. Atlantic Shores said earlier this week it too wants government assistance to build its own wind farm off the southern New Jersey coast, warning that the project is “at risk” without additional financial assistance from the government.Atlantic Shores is a joint partnership between Shell New Energies US LLC and EDF-RE Offshore Development LLC.
The bill signing comes a day after Orsted’s Ocean Wind I project received clearance from the U.S. Bureau of Ocean Energy Management to begin construction on a wind farm 13 to 15 miles off the coast of Atlantic City and Ocean City. Additional approvals are still required at the federal and state levels, butIt plans to begin construction on the wind farm, with nearly 100 wind turbines, this fall. It aims to provide enough electricity to power 500,000 homes.
Orsted also has approval to build a second wind farm off New Jersey’s coast, but that project is not as far along in the regulatory process.also signed bills to incentivize film production in the state, and to help finance housing and commercial projects in economically struggling areas.Copyright © 2023 The Washington Times, LLC.
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