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New Jersey Calls for 1100 MW of Offshore Wind

Yesterday New Jersey Governor Chris Christie signed the Offshore Wind Economic Development Act, a law that will help spur the development of a vibrant offshore wind industry in the state.

The bill directs the New Jersey Board of Public Utilities (BPU) to develop an offshore renewable energy certificate program (OREC) that calls for a percentage of electricity sold in the state to be from offshore wind energy. This percentage support the development of at least 1,100 megawatts of generation from offshore wind projects, according to the announcement from the office of the governor.

Through the legislation, the New Jersey Economic Development Authority (EDA) will provide financial assistance and tax credits to offshore wind project developers and associated equipment manufacturers and assembling facilities. Read more…