The New Jersey Board of Public Utilities has selected Ocean Wind, an offshore wind energy project proposed by Ørsted with support from Public Service Enterprise Group (PSEG), to develop a 1.1-gigawatt offshore wind farm that will power more than half a million New Jersey homes. Ocean Wind will be located 15 miles off the coast of Atlantic City, N.J. Construction is expected to commence in the early 2020s, with the wind farm operational in 2024.
Ørsted will work with PSEG’s 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 electric 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 contribute significantly to Gov. Phil Murphy’s ambitious renewable energy goal of supplying more than 1.5 million New Jersey homes with offshore wind power by 2030. At 1.1 gigawatts, Ocean Wind is expected to create more than 3000 direct jobs annually through development and three-year construction cycle.
In addition to powering homes and businesses across New Jersey, Ocean Wind will also bring significant investments to New Jersey. Ørsted will launch its Pro-NJ Trust fund in Cape May and Atlantic counties, which will invest up to $15 million in grants to support local infrastructure investments and to support small, women, and minority-owned business owners who wish to become part of the emerging offshore wind industry. Ørsted also is proceeding with plans to establish an Operation and Maintenance base in Atlantic City that will provide permanent, high-skilled jobs during the more than 25-year lifespan of the project. As part of its community relations outreach efforts, Ocean Wind will work with JINGOLI through the company’s Competitive Edge and Live Classroom programs that will identify and train Atlantic City residents and students who are interested in working in wind farm construction or in one of the permanent positions that will become available when the project is completed.
