Fisherman’s Energy of New Jersey became the first offshore wind farm in New Jersey to apply for the state’s new renewable energy credit program, making it likely that it will be the first offshore wind farm in the state (and the country) to get on the grid. New Jersey passed a law just last week requiring utility companies to buy credits from offshore wind farms — they already have a similar solar program in place — which will give wind developers the financial means to build their turbines. The program should help to jump start the offshore wind market in New Jersey and send clean energy soaring through the Garden State’s grid.
Fishermen’s Energy, owned by a group of East Coast commercial fishermen, is planning a two phase project off the coast of Atlantic City. The first phase will be built on about 692 acres of state waters approximately three miles off the coast and will include eight 2.5 megawatt (MW) turbines. The initial phase would produce about 20 MW of electricity for New Jersey power customers. The second phase would be located about seven miles off the coast on 20,000 acres of federal waters and would include 66 turbines ready to produce about 330 MW of energy.
The power from the New Jersey projects will be sold to municipal, commercial and industrial customers in the state of New Jersey, and to extend the initiative even further, Fisherman’s Energy already has a project in the works in Rhode Island. The company’s application for New Jersey’s renewable energy credit program will allow the project receive an infusion of cash from municipal power companies in the area to help the farm get on its feet. The program also helps ensures a paying customer base for offshore wind project developers once they complete their projects.
Via Delaware Online