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Tax break for offshore wind developer Orsted gets blowback in New Jersey Legislature

The future of a bill that would let Danish offshore wind developer Orsted keep tax credits that it otherwise would have to return to New Jersey ratepayers was uncertain Friday afternoon after it failed to gather enough support in the state Senate. The measure to allow Orsted to keep federal tax credits to help counter what lawmakers termed lingering economic effects from the COVID-19 pandemic and elevated inflation was passed by the state Assembly earlier Friday, but did not received enough votes in the Senate. The bill applies to Orsted’s first project in New Jersey, Ocean Wind I, which aims to generate enough electricity to power 500,000 homes. ....

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Tax break for offshore wind energy developer Orsted narrowly approved in New Jersey Legislature

A bill to let Danish offshore wind energy developer Orsted keep tax credits that it otherwise would have to return to New Jersey ratepayers was approved by the slimmest of ....

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Tax break for offshore wind energy developer Orsted nar...

A bill to let Danish offshore wind energy developer Orsted keep tax credits that it otherwise would have to return to New Jersey ratepayers was approved by the slimmest of margins in the state Legislature Friday afternoon ....

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Blowback for idea to have NJ residents bail out wind developer

The measure would allow Orsted to keep federal tax credits to help counter what lawmakers termed lingering economic effects from the COVID-19 pandemic and elevated inflation. ....

New Jersey , United States , Beach Haven , Atlantic City , Middlesex County , John Mckeon , Edward Durr , Erik Peterson , David Pringle , Bob Smith , Renewables North America , Assembly Majority Leader Louis Greenwald , Ocean Wind , Reduction Act , Majority Leader Louis Greenwald , Assemblyman Erik Peterson , Assemblyman John Mckeon , Jersey Shore , Assemblywoman Victoria Flynn , Ratepayer Advocate , Clean Water Action , Atlantic Shores , North America , Shell New Energies ,