Power & Energy

Ørsted submits bid for offshore wind farm with PSEG support

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Ørsted U.S has announced the submission of a bid to the New Jersey Board of Public Utilities (NJBPU) for building its Ocean Wind project in response to the state’s request for offshore wind proposals. Of the three firms that applied for a ratepayer subsidy on the proposed project fifteen miles off the coast of Atlantic City, Ørsted promised one thousand jobs during the two-to-three-year development period and one hundred permanent jobs during the twenty-five year anticipated life cycle of the establishment on its application. The company added that the generated electricity would suffice for over half a million households.

Should the project receive approval from NJBPU, with Ørsted winning the competitive process, the power company would collaborate with Public Service Enterprise Group for energy management services and lease of land property for use in project development. PSEG would also have the option of becoming an equity investor in the project. Ørsted, however, did not provide specifications of the cost to ratepayers, the number of turbines for the project or the estimated amount of electricity to be generated. A spokesperson for the BPU informed of the Board’s decision not to release the names of the applicants.

Governor Phil Murphy wishes state offshore wind generation to reach 3,500 megawatts by 2030 in addition to boosting the economy through creation of jobs in a new industry and this desire is evident in his command for the Board to open a solicitation for bids and orders to implement the Offshore Wind Economic Development Act. Ørsted, with the world’s first offshore firm and twenty such functioning firms to its credit, is a strong contender amongst companies like U.S. Wind and Equinor, which are known to be interested in applying.

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