Please Note: The Atlantic Shores Offshore Wind Projects have NOT been Canceled**
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www.wsj.com /articles/orsted-wind-energy-new-jersey-phil-murphy-d01a09a3
Opinion | Phil Murphy’s New Jersey Wind Flop
The Editorial Board
Appeared in the November 6, 2023, print edition as 'Phil Murphy’s New Jersey Wind Flop'.
The article discusses the failure of green-energy projects in New Jersey, particularly the cancellation of two megaprojects along the Jersey shore by the renewable energy firm Ørsted. New Jersey Governor Phil Murphy had supported these projects, which were intended to provide electricity for many homes, in an effort to gain favor with the climate lobby for a potential White House run. However, Ørsted withdrew from the projects, citing cost overruns amounting to $4 billion for the first nine months of the year. Governor Murphy criticized Ørsted's credibility and competence publicly. The article points out that while Ørsted attributed its withdrawal to rising interest rates and component costs, it didn't provide specific reasons for the New Jersey project's impracticality. Ørsted is continuing with wind farms in New England and Maryland. The blame for the failure is shared, as the state encouraged a partnership between the power company PSEG and Ørsted, with PSEG initially buying a 25% stake in one of the offshore projects. However, PSEG sold its stake due to critical cost overruns. Governor Murphy signed a bill allowing Ørsted to keep federal tax credits instead of using them to reduce electricity rates, potentially costing New Jersey residents up to $1 billion. The article also highlights that wind industry problems are not unique to New Jersey, with other states experiencing issues, and it calls for a reevaluation of green energy projects and their cost estimates.
SummaryWind Turbines, Electric Vehicles Lose Favor With Frugal Consumers
November 20, 2023 / By Downbeach Buzz
As the country sinks slowly into recession, consumer patience with green energy initiatives is wearing thin. Strapped taxpayers seemingly no longer interested in funding foreign wind companies like ORSTED that want to industrialize U.S. waters. Consumers also thinking about pros and cons of an EV, electric vehicle purchase. Even though Danish developer Orsted cancelled their New Jersey project, Gov. Murphy still plowing ahead with other wind-power experiments. NJ state Board of Public Utilities now seeking bids for a wind power transmission facility. Margate Offshore Wind Let’s not forget this pending NJ wind farms project called Atlantic Shores, a project by EDF and Shell. Atlantic Shores has three offshore wind energy lease areas totaling more than 400 square miles under active development.  Located 10 miles off the coast of South Jersey between Atlantic City and Barnegat Light. Who are supporting partners of the Atlantic Shores wind project? Rutgers, Stockton, NJ Chamber of Commerce, Greater Atlantic City Chamber, Gary Hill and MBCA, Boys & Girls Club of Atlantic City and Atlantic County Economic Alliance and many others.
