Orsted to Build NJ's First OWF

Laxman Pai
Monday, June 24, 2019

Denmark’s Ørsted won New Jersey’s first offshore wind solicitation with a 1.1-gigawatt project Ocean Wind, the largest offshore wind project to secure a development deal with a U.S. state to date.

The New Jersey Board of Public Utilities (NJBPU) announced in a press note that it has selected Ocean Wind, an offshore wind energy project proposed by Ørsted with support from Public Service Enterprise Group (PSEG), to negotiate a 20-year offshore wind renewable energy credit (OREC) for an offshore wind farm with a capacity of 1,100MW.

Located off the coast of Atlantic City, Ocean Wind will be New Jersey’s first large-scale offshore wind farm. Subject to Ørsted’s final investment decision, the wind farm is expected to be completed by 2024.

Ørsted will work with Public Service Enterprise Group’s (PSEG) non-utility affiliates, which will provide energy management services and potential lease of land for use in the project development and execution phase. PSEG, which serves 2.2 million electricity customers in New Jersey and has a long development partnership with Ørsted, has an option to become an equity investor in the Ocean Wind project.

Ocean Wind will supply more than half a million New Jersey homes with clean power. The project is expected to create over 3,000 direct jobs annually through development and the three-year construction cycle. Ørsted is also proceeding with plans to establish an operations and maintenance (O&M) base in Atlantic City that will provide permanent, high-skilled jobs during the 25+ years lifespan of the sproject.

Martin Neubert, Executive Vice President and CEO of Ørsted Offshore, said: “We’re delighted that New Jersey has chosen Ørsted to build the State’s first large-scale offshore wind farm. Since Ørsted developed the world’s first offshore wind farm in 1991, we have pushed the industry forward to help turn offshore wind into a large-scale and cost-competitive source of clean energy."

"We look forward to delivering Ocean Wind which will be the first offshore wind farm in the US to cross the 1GW mark and will contribute significantly to meeting Governor Murphy’s ambitious renewable energy goals,” he added.

Thomas Brostrøm, CEO of Ørsted US Offshore Wind and President of Ørsted North America, said: “Today’s announcement firmly establishes a fast-growing global industry in New Jersey, which will create jobs and supply chain in the state. Ocean Wind will ensure that the state and its residents not only benefit from clean, renewable power, but that they reap the rewards of being an early mover at scale in the offshore wind industry as it grows in the US.”

With today’s announcement, Ørsted has secured a US offshore wind build-out portfolio with a total capacity of approx. 2GW to be completed between 2022 to 2024.

Categories: Government Update Wind Power Renewable Energy Offshore Wind Offshore Energy

Related Stories

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

Current News

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

Sapura Energy Rebrands to Vantris Energy

photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com