Ocean Wind 1
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Legal & RegulatoryWind Project Approvals, Tax Credits Look to Outpace Macroeconomic and Supply Chain Headwinds in 2024
Recent events in the wind power industry, all occurring on a single day, provide a snapshot of the sector’s challenges and opportunities heading into 2024. Ørsted, the world’s largest developer of offshore wind, on Oct. 31 announced the cancellation of Ocean Wind 1 and 2, two 1,000-MW-plus projects off the coast of New Jersey. In […]
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Offshore Wind
Officials Give Green Light for Major U.S. Offshore Wind Project
A major offshore wind project off the coast of southern New Jersey has received approval for its construction and operation. The U.S. Bureau of Ocean Energy Management (BOEM) on July 5 gave the go-ahead for the 1,100-MW Ocean Wind 1 installation. Ocean Wind 1 is the third commercial-scale offshore wind energy project approved for construction […]
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Offshore WindBurns & McDonnell Awarded Contract for Ocean Wind 1 Offshore Project
The first three major construction contracts have been awarded for the 1,100-MW Ocean Wind 1 offshore project that will provide electricity to New Jersey. Ocean Wind 1 is a joint venture between Ørsted and Public Service Enterprise Group (PSEG), which provides electricity for much of New Jersey. Those groups on April 25 announced Burns & […]