Wind energy developer Orsted will pay N.J. $125 million for canceled projects inquirer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.com Daily Mail and Mail on Sunday newspapers.
New Jersey Gov. Phil Murphy’s office announced Tuesday that global renewable energy giant Orsted will pay the state $125 million for pulling out of two offshore wind projects off the coast last year, a move that upended a key part of the state’s clean energy program. Murphy’s administration said it plans to use the money to further support offshore wind projects by investing in manufacturing facilities and other clean energy programs. It also announced plans for a fifth offshore wind project.
Along the Jersey Shore, several companies, including Atlantic Shores (owned jointly by oil and gas titan Shell and the French-based utility company EDF) and Danish-based Orsted, are mapping the ocean floor. But not for oil. This is the first step toward construction of hundreds of mammoth offshore wind turbines. Many will be smack in the face of some of the wealthiest communities on the East Coast. But it wasn’t just the disfigurement of magnificent ocean views that got people agitated. It was all those dead whales and dolphins.