The New Jersey Board of Public Utilities (NJBPU) has selected Ocean Wind as the preferred bidder for the first offshore wind project in New Jersey (United States). Ocean Wind is a project company led by Ørsted with the support of Public Service Enterprise Group (PSEG), which has an option to become an equity investor in the project. The company will negotiate a 20-year offshore wind renewable energy credit (OREC) for the project, which will have an installed capacity of 1,100 MW and should be completed by 2024.
Ørsted is taking part in several offshore wind projects in the United States, with a combined capacity of around 2 GW and expected commissioning dates between 2022 and 2024. The projects include the 1.1 GW Ocean Wind off the coast of New Jersey (2024), the 120 MW Skipjack off the coast of Maryland (2022) and two projects led in partnership with Eversource (50% each): the 704 MW Revolution Wind off the Rhode Island (400 MW) and Connecticut (304 MW) coasts (2023), and the 130 MW South Fork off New York (2022).
In addition, Ørsted has the rights to develop 1.4 GW off the coast of New Jersey, up to 1.2 GW off the coasts of Delaware and New Jersey (50% in the Garden State Offshore Energy project, with PSEG), around 2 GW off the coast of Massachusetts (50% in Bay State Wind, with Eversource) and around 1.2 GW off the coast of New England (two leases with Eversource).
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