Deepwater Wind - About Us
Bookmark and Share

New Jersey to push offshore wind development with new law

Governor Chris Christie has signed legislation that directs the New Jersey Board of Public Utilities (BPU) to create regulations and financial incentives to promote wind energy development off the state’s coast.

The Offshore Wind Economic Development Act creates a renewable energy certificate for offshore wind (OREC) that electric utilities will be required to hold to help comply with the state’s renewable portfolio standard.

Regulators will set the amount of ORECs that utilities must hold as a percentage of total kilowatt hours sold. The law mandates that they hold enough certificates to support 1,100MW of offshore wind development by 2020. Read more…