New Jersey utility regulators on Tuesday adopted a funding mechanism to subsidise 3.5GW of offshore wind capacity development by 2030, while separately rejecting support for EDF Renewables’ proposed three-turbine, 25MW Nautilus pilot.
The Board of Public Utilities (BPU) will now issue long-delayed regulations for offshore renewable energy credits (ORECs) under 2010 legislation - a move expected to ignite sector activity along the state's coastline whose gently-tapering, sandy outer continental shelf is well-suited for installation of fixed turbine foundations.
