The developer of a New Jersey offshore wind farm designed to energy greater than 700,000 properties has pulled the plug on the challenge, the most recent setback for a sector whose prospects have worsened below the Trump administration.
“This submitting marks the closing of a chapter,” Atlantic Shores Offshore Wind Chief Government Officer Joris Veldhoven mentioned in an announcement Monday. Final week the corporate filed a movement with regulators to terminate the renewable power certificates the challenge had been awarded. The certificates would have underpinned the challenge’s funds.
Lengthy seen as a key useful resource to energy main Northeast and Mid-Atlantic cities, offshore wind has struggled with inflation, provide constraints and now an administration intent on slowing its advance. The brand new president has lengthy been crucial of the know-how and took specific intention at Atlantic Shores. Just a few days after his election, Trump referred to as Atlantic Shores a catastrophe and halted federal funding of wind tasks.
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Atlantic Shores, deliberate about 8.7 miles (14 kilometers) off the coast, was meant to embody as many as 200 wind generators and supply as a lot as 2.8 gigawatts of energy.
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