Fishermen’s Energy’s 24MW Atlantic City offshore wind project appears on the verge of collapse, with the US Department of Energy confirming the project will no longer be eligible for $40m of future funding, and industry sources claiming the developer is laying off staff.

Fishermen’s Energy had until the end of 2016 to secure a power off-take agreement in order to keep the landmark project eligible for Department of Energy (DOE) funding, but the developer failed to meet the deadline, a DOE spokesperson confirmed to Recharge.