AT SEA - JULY 07: In an aerial view, wind turbines generate electricity at the Block Island Wind Farm on July 07, 2022 near Block Island, Rhode Island. The first commercial offshore wind farm in the United States is located 3.8 miles from Block IslanOrsted, the global wind energy developer, says its first offshore wind farm in New Jersey will be delayed until 2026 due to supply chain issues, higher interest rates, and a failure so far to garner enough tax credits from the federal government.
But Orsted still believes the wind farm, to be built in waters off of Atlantic City and Ocean City, will be profitable in the long run. Orsted has federal approval for the Ocean Wind I project, and has state approval for a second New Jersey project, Ocean Wind II. News of the delay was a blow to supporters of offshore wind in New Jersey, which is trying to become the capital of the nascent industry on the U.S. East Coast. It also offered new hope to foes of the technology.
"It was a travesty when Gov. Murphy bailed out Orsted at the expense of New Jersey taxpayers the first time they threatened to walk away," said Republican state Sen. Michael Testa. "I’m calling on the Murphy administration to state unequivocally that our residents will not be sold out for Orsted a second time.