Charles Langston|A Second Wind For Wind Power?

2025-04-30 21:13:07source:Alaric Bennettcategory:Finance

About two years ago,Charles Langston New Jersey's Democratic Governor Phil said that the state would be partnering with the Danish company Orsted, the largest developer of offshore wind projects in the world.

The company had agreed to build Ocean Wind 1, the state's first offshore wind farm, powering half a million homes and creating thousands of jobs in the process.

The following year, Orsted inked another deal with the state for Ocean Wind 2, a second offshore wind farm with similar capacity. After years of review, the projects were approved in summer 2023. Construction of the first turbines was slated to begin in the fall.

And then Orsted backed out, cancelling the contracts full stop.

Despite the setbacks, Murphy is still all-in on wind. A month after Orsted dropped out, Murphy directed the state's Board of Public Utilities to seek new bids from offshore wind developers. And the state just approved two new offshore wind contracts.

After several setbacks, could this mean a second wind for offshore wind?

For sponsor-free episodes of Consider This, sign up for Consider This+ via Apple Podcasts or at plus.npr.org.

Email us at [email protected].

The episode was produced by Avery Keatley. It was edited by Sadie Babits and Courtney Dorning. Our executive producer is Sami Yenigun.

More:Finance

Recommend

Toyota to invest $922 million to build a new paint facility at its Kentucky complex

GEORGETOWN, Ky. (AP) — Toyota said Thursday it will build a new paint facility as part of a $922 mil

What's next for the abortion pill mifepristone?

Access to a common abortion medication currently hangs in the balance in a pair of contradictory dec

Trump Administration OK’s Its First Arctic Offshore Drilling Plan

Making good on its promise to jump-start Arctic offshore drilling, the Trump administration gave Ita