Orsted Wind doubling down on their offshore wind plan. The Danish energy company has pledged a $100 million guarantee to build New Jersey’s first offshore wind farm.
Orsted betting they’ll complete the Ocean Wind Turbine project off by end of DEC 2025.
If not up and running by then, Orsted will lose that $100 mil being held in escrow.
The Board of Public Utilities in New Jersey approved an agreement with Orsted.
Industrialization of New Jersey coastal waters.
Destroying the environment, in order to save it. WTF.
NJ Gov Murphy and NJ Senate hopeful Caren Fitzpatrick support foreign company controlled NJ energy supply.
Marine Mammal Stranding Center (MMSC) remains quiet during what many consider an ongoing marine mammal slaughter. To date, Brigantine Mayor Vince Sera has avoided talk of limited MMSC leadership.
Governor Murphy willing to sacrifice marine habitat, in order for New Jersey becoming East Coast hub for offshore wind energy.
Experimental wind farms now facing substantial, bi-partisan opposition. Costs, risky benefits, destruction of marine environment, harm to fisheries, fear of whale and marine mammal extinction.
Wind companies like Orsted want greater tax breaks and financial support from New Jersey taxpayers.
While offshore wind is facing weakening support, so is the automotive industry. Lackluster sales of EV cars and trucks forsing GM and FORD to take substantial losses due to Govt mandated EV production.
Will Orsted complete the offshore wind project? Can the foreign mega-company overcome delays in the supply chain, higher interest rates, and a lack of sufficient tax credits from NJ and the federal government?
Orsted gets their $100 million back if they don’t get government approvals.
Orsted is required to reach commercial operation by December 2025.
If Orsted forfeits the money, it could be returned to New Jersey utility ratepayers.