New Jersey Offshore Wind Energy: Updates and Developments in 2024
Trenton, NJ – New Jersey’s commitment to offshore wind energy remains unwavering despite recent setbacks. Governor Phil Murphy announced the state’s intention to launch its fourth offshore wind solicitation in early 2024, with awards expected in 2025. This move reaffirms New Jersey’s goal of achieving a 100% clean energy economy by 2035, aiming for 11 gigawatts of offshore wind energy by 2040, enough to power 3.2 million homes.
The state’s decision follows Ørsted’s withdrawal from its New Jersey offshore wind commitments, a move that had raised concerns about the industry’s future. Ørsted cited macroeconomic factors, including inflation and supply chain issues, as reasons for scrapping plans for the Ocean Wind 1 and Ocean Wind 2 projects. This decision has been a significant blow to New Jersey’s ambitions to become a clean energy leader, as these projects were expected to power half a million homes and generate numerous jobs.
Despite these challenges, New Jersey is looking forward to the final investment decision by Atlantic Shores Offshore Wind for a project awarded in 2021. Governor Murphy is optimistic about the project’s potential to bring clean energy and jobs to the state, emphasizing New Jersey’s role as a hub for offshore wind development. The New Jersey Board of Public Utilities (NJBPU) and other state officials are determined to overcome these setbacks and continue pushing for offshore wind as a vital part of the state’s clean energy future.