The New Jersey Board of Public Utilities (NJBPU) has awarded a combined 3,742 MW of offshore wind capacity in its latest third competitive OREC (Offshore Renewable Energy Credits) solicitation, allocating 2,400 MW to the Leading Light Wind Project and 1,342 MW to the Attentive Energy Two Project and signing 20-year contracts to purchase their energy production. The contract awarded by the NJBPU, considers a first year set price of $131/MWh for the Attentive Energy offshore wind project and of $112.50/MWh for the Leading Light project. Both projects are expected to enter operations in 2031, with Leading Light coming online in two 1,200 MW phases, with the second coming online in 2032.
The Attentive Energy Two offshore wind project is being developed by Attentive Energy, a joint venture between TotalEnergies (70%) and Corio Generation (Macquarie’s Green Investment Group, 30%), which is already developing the 1.4 GW Attentive Energy One offshore wind project off the state of New York. The Leading Light Wind project is being developed by the US companies Invenergy and energyRE, and is set to install 100 turbines at 64 km off the coast of New Jersey with a total capacity of 2.4 GW. Combined, the projects are expected to bring almost $7bn in economic benefits to New Jersey and produce energy to power 1.8 million homes.
In March 2023, the NJBPU launched its third competitive OREC (Offshore Renewable Energy Credits) solicitation to award between 1.2 GW and 4 GW to help the state’s goal of attaining 11 GW of offshore wind by 2040 and to have a 100% clean energy economy by 2035.
Do you want to become an expert on renewable energies auctions?
Discover our very detailed and regularly updated RES auctions database with worldwide coverage and a technical focus backed by academic research.
With our renewable energies auctions service you will be able to monitor auctions at a global level. Its (expanding) scope notably includes all major G20 countries and offers an especially fine tracking on Europe and South America.