Updated on February 24, 2021 at 10:40 am
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One of the prospective developers of offshore wind farms miles from the New Jersey coast said it would train members of local labor unions to aid in the construction of its clean energy project.
The agreement between the wind developer Atlantic Shores and the six unions in New Jersey was described as the first of its kind in the United States, where a nascent offshore wind industry is hopeful for groundbreakings in the next few years of the Biden administration.
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Atlantic Shores, one of two developers with federal leases for offshore wind developments along the New Jersey coast, came to an agreement with local unions.
SJI Reports 2020 Financial Results
Announces Renewable Natural Gas Investment
FOLSOM, NJ, Feb. 24, 2021 (GLOBE NEWSWIRE)
Investor Contact:
Announces Renewable Natural Gas Investment
FOLSOM, NJ (February 24, 2021) – SJI (NYSE: SJI) today reported operating results for its 2020 full year and fourth quarter ended December 31, 2020. Highlights include:
2020 GAAP earnings of $1.62 per diluted share compared to $0.84 per diluted share in 2019
2020 Economic Earnings of $1.68 per diluted share compared to $1.12 per diluted share in 2019
2020 GAAP/Economic Earnings include $0.13 per diluted share in nonrecurring items adjustments for certain tax benefits ($.07), adjustments to SJG’s rate design ($.03) and pipeline supplier refunds ($.03)
Significant improvement in 2020 financial results, despite historic challenge of COVID pandemic, driven by increased profitability from Utility and Non-Utility operations
The BPU is expected to have its decision in June.
“We need to have a voice so unintended consequences don’t negatively impact” the Island, Surf City Councilman Peter Hartney said last week.
His comments came during the Feb. 10 borough council meeting, where he brought the issue to light, nearly four months after first bringing up concerns of a possible adverse impact, including shoreline visibility to LBI communities. Since then, Hartney said, he’s had an opportunity to question community members and found the concerns are the same across the board.
Atlantic Shores Offshore Wind is poised to build the second wind farm in the state, in part off the coast of Long Beach Island. The closest western, or in-shore, boundary of the lease is 10 miles from Barnegat Light and 9 miles from Holgate. The lease area has the potential to generate 3 gigawatts of offshore wind energy. Atlantic Shores plans to start onshore construction of substations in 2024 and offshore construction by 202