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Orsted Puts Up $100M Guarantee That it Will Build New Jersey's First Offshore Wind Farm by 2025

October 12, 2023 |

Credit: Image by David Will from Pixabay

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.

Read More: Click Here NJ SEED: Orsted’s pledge signifies the company’s faith in its ability to deliver. Some in the public are yet to be convinced that the end result will be worth the cost and environmental impact.

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