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Orsted puts up $100M guarantee that it will build New Jersey's first offshore wind farm by 2025

Por: ABC News Business October 16, 2023

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OCEAN CITY, N.J. -- The Danish wind energy company Orsted has put up a $100 million guarantee that it will build New Jersey's first offshore wind farm.But it will lose that money if the project is not operating by Dec. 2025 — a year after the deadline approved by state utility regulators.New Jersey's Board of Public Utilities approved an agreement Wednesday with Orsted under which the company would forfeit the money if the project is... + full article



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