Murphy Administration Announces Developments in Offshore Wind Industry
Murphy Administration Announces Developments in Offshore Wind Industry
“Offshore wind development remains a once-in-a-generation opportunity that will result in significant economic and environmental benefits throughout the Garden State,” said Governor Murphy. “At this pivotal inflection point for the industry both in New Jersey and across the nation, it’s critical that we remain committed to delivering on the promise of thousands of family-sustaining, union jobs and cleaner air for generations to come.”
“New Jersey’s economic and environmental future depends on the bold action we take today to secure billions of dollars in economic benefits and a significant reduction in emissions from the electric sector,” said NJBPU President Christine Guhl-Sadovy. “By accelerating New Jersey’s offshore wind development schedule, we underscore our commitment to realizing the industry’s full potential for the benefit of all New Jerseyans.”
The NJBPU recently announced the opening of the state’s fourth solicitation for 1.2 to 4 gigawatts of offshore wind generation capacity. The application window will remain open until 5:00 p.m. ET on July 10, 2024.
The NJBPU also announced that it will pause on moving forward with the Second State Agreement Approach (SAA) for coordinated offshore wind transmission planning with regional grid operator, PJM Interconnection (PJM). The decision to pause follows the Federal Energy Regulatory Commission’s (FERC) release of Order 1920 which addresses long term regional transmission planning and PJM’s ongoing interconnection queue reform process, each of which impacts planning and costs. Pausing at this time affords Board staff the opportunity to fully evaluate the implications of the new FERC rule and participate in PJM’s process to ensure the best outcome to meet New Jersey’s transmission needs at the least cost to ratepayers.
Additionally, the Murphy Administration announced that the State and NJBPU have settled their claims against Orsted arising out of Orsted’s decision to cease development on the Ocean Wind 1 and Ocean Wind 2 projects (the “Ocean Wind Projects”). Pursuant to the settlement, the State and Orsted have agreed to release claims against each other arising out of or related to the Ocean Wind Projects, and the State will receive $125 million.
The funds will be used to support investments in qualified wind energy facilities, investments in offshore wind component manufacturing facilities, and other clean energy programs to achieve the State’s clean energy goals under the Energy Master Plan.
About New Jersey’s Clean Energy Program (NJCEP)
NJCEP, established on January 22, 2003, in accordance with the Electric Discount and Energy Competition Act (EDECA), provides financial and other incentives to the State’s residential customers, businesses and schools that install high-efficiency or renewable energy technologies, thereby reducing energy usage, lowering customers’ energy bills and reducing environmental impacts. The program is authorized and overseen by the New Jersey Board of Public Utilities (NJBPU), and its website is www.NJCleanEnergy.com.
About the New Jersey Board of Public Utilities (NJBPU)
NJBPU is a state agency and regulatory authority mandated to ensure safe, adequate and proper utility services at reasonable rates for New Jersey customers. Critical services regulated by NJBPU include natural gas, electricity, water, wastewater, telecommunications and cable television. The Board has general oversight and responsibility for monitoring utility service, responding to consumer complaints, and investigating utility accidents. To find out more about NJBPU, visit our website at http://www.nj.gov/bpu.
