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Phil Murphy’s New Jersey Wind Flop
  + stars: | 2023-11-06 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
Journal Editorial Report: Pushback emerges among donors and employers. Images: AP Composite: Mark KellyPhil Murphy huffed and he puffed, and a giant wind boondoggle blew the New Jersey Governor down. That’s the story of another failed green-energy project, as the follies keep being exposed. The renewable energy firm Ørsted last week backed out of two megaprojects along the Jersey shore that it started planning in 2019. The company says cost overruns have made them impossible, and it wrote off $4 billion for the first nine months of this year.
Persons: Mark Kelly Phil Murphy huffed, Ørsted, Murphy Organizations: New, New Jersey Governor Locations: New Jersey, Jersey
SEASIDE HEIGHTS, N.J. (AP) — A proposed wind energy project off New Jersey would be among the farthest from land on the East Coast, the New York-based development company said Monday. Wind power developers have struggled to make progress, however, due to supply chain issues, higher interest rates, and a failure so far to garner enough tax credits from the federal government. Orsted, the Danish wind energy company, would build its first project about 13 to 15 miles off the coast of Atlantic City and Ocean City. “Offshore wind development makes no sense from either an environmental or economic standpoint,” he said. It is pursuing another offshore wind project in New York about 50 miles south of Jones Beach.
Persons: , Damian Bednarz, , , Bednarz, Orsted, Robin Shaffer, ___, Wayne Parry Organizations: Energy, Associated Press, Community, Grid, Office, New, New Jersey Wind, Corio, Twitter Locations: N.J, New Jersey, East Coast, New York, Seaside, East, Chicago, Long, Essen, Germany, Atlantic City, Ocean City, Coast NJ, Paulsboro, Jones Beach, Houston, Boston, London, www.twitter.com
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