S-1217 requires the BPU to accept an application from Fishermen's and review it within 90 days. The company's two previous proposals were rejected by the BPU as being too expensive for the state's ratepayers, who will pay for the electricity from the wind turbines.
Since the Fishermen's project was last before the BPU, the company reached a preliminary agreement earlier this spring to be acquired by EDF Renewable Energy, a global developer of clean-energy projects. EDF has developed 400 MW of offshore wind capacity in Europe.
Orsted, U.S. Wind and Deepwater Wind are planning to develop an offshore wind project in a joint venture with the Public Service Enterprise Group about 16 miles from Cape May.
The BPU is currently working on developing a funding mechanism to have ratepayers subsidize offshore wind along the coast. (Source: Fishermen's Energy, NJSpotlight, Various Others, 31 May, 2018) Contact: Fishermen's Energy, http://www.offshorewindhub.org/tags/fishermens-energy
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