Danish energy company Orsted announced Wednesday that it is buying out its U.S. partner to take full control of a controversial wind energy farm proposed off the South Jersey coast.
Orsted and New Jersey-based Public Service Enterprise Group entered into a partnership in 2020 to jointly develop the Ocean Wind 1 project, but now PSEG is selling its 25 percent stake to Orsted. Terms of the deal were not announced.
PSEG to Sell Its 25% Equity Stake in Ocean Wind 1 to Ørsted njbmagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from njbmagazine.com Daily Mail and Mail on Sunday newspapers.