NewEnergyNews: Rebirth Of New Jersey Ocean Wind Coming

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    Thursday, October 26, 2017

    Rebirth Of New Jersey Ocean Wind Coming

    Developers Plan Wind Farms Off Jersey as Christie Era Ends

    Joe Ryan, October 24, 2017 (Climate Changed via Bloomberg)

    “…[Offshore wind developers in New Jersey see the November election to replace Governor Chris Christie, who has blocked implementation of the state’s plan for ocean wind expansion, as a rebirth of opportunity. Democratic gubernatorial candidate Phil Murphy, a former Goldman Sachs Group Inc. executive who leads by 15 points in polls, is calling for 3.5 gigawatts of offshore wind generation by 2030. Republican Lieutenant Governor Kim Guadagno has also pledged to support the industry. New Jersey is] a potentially rich market for offshore wind…[It is the most densely populated U.S. state, its power prices are among the highest in the nation, and it is] midway between offshore wind development sites in New England and the Southeast, making the state a potential hub for ferrying supplies to build projects in other states…[Offshore wind, which has thrived in Europe, has lagged in the U.S. because] policy makers have been reluctant to support subsidies to offset the high costs of building…[But competition among developers, especially in the North Sea, has driven down costs… click here for more

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