NJ Cancels Offshore Wind Solicitation as Industry Struggles
- Move comes after Shell bows out of Atlantic Shores project
- Inflation, Trump opposition increase strain on wind developers
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New Jersey will not move forward with an award in its fourth offshore wind solicitation, the process by which it agrees to buy electricity from planned wind projects, the state’s utility board said Monday. It’s the latest blow to the struggling US industry.
The decision is a result of Shell backing out as an equity partner in the Atlantic Shores project as well as uncertainty driven by federal actions and permitting, the New Jersey Board of Public Utilities said in a statement. “The offshore wind industry is currently facing significant challenges, and now is the time for patience and prudence,” New Jersey Governor Phil Murphy said in a statement.