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May 24th

NRG Energy dumps N.J. offshore wind farm plan

The Bureau of Ocean Energy Management, Regulation and Enforcement provides regulatory information regarding alternative wind energy on its website.

Under an offshore wind law, developers propose the price they will receive for the power their wind turbines produce. It will be up to the state agency to determine whether the cost is justified when taking into consideration generating cleaner power, jobs an offshore wind industry could generate, and increasing reliability of the regional power grid. The price would remain unchanged for two decades.

According to the Star Ledger, a state law calls for at least 1,100 megawatts of offshore wind capacity which is enough to power more than 400,000 New Jersey households.

The Garden State is considered a prime location for offshore wind because of the relatively shallow waters along its coast. Developers say its program to award certificates and law that offers up to $100 million in tax credits to manufacturers that locate to the state is also added incentive.



 
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