New Jersey opens bidding for 1.1GW of offshore wind

Dreamstime

The New Jersey Board of Public Utilities (NJBPU) on Monday voted unanimously to open an application window for developers who control zones in nearby federal waters - a list that includes Deepwater Wind, Orsted and US Wind off New Jersey itself, and Equinor farther to the north with its zone off NY. These actions mark a significant leap forward in achieving the Governor's vision to transform New Jersey into a 100-percent clean energy state by 2050. According to a recent market update by the US Department of Energy (DOE), the US offshore wind industry has accumulated a pipeline of projects totalling 25.46 GW, including 1.3 GW added previous year.

The application window closes on 28 December, with New Jersey planning to act on the bids it receives by July 2019.

New Jersey now has a goal to be powered 100% by clean energy by 2050, and an offshore wind capacity goal of 3.5GW by 2030.

The proposal, which will officially be unveiled by the New Jersey Bureau of Securities, would impose what would be called a fiduciary rule, requiring New Jersey broker-dealers to place their clients' interests above their own when recommending investments, Murphy said. "Thanks to the Board, today we took another enormous step toward realizing that goal with the largest single-state solicitation of offshore wind in the country".

NJBPU is to issue a guidance document to help developers calculate economic benefit. "Offshore wind energy will help drive down our dependence on fossil fuels and reduce greenhouse gases that cause climate change while creating jobs and providing a boost to the economy", said NJBPU President Joseph L. Fiordaliso.

The document will also provide the format to be used for submittal of information required under the Offshore Wind Economic Development Act as well as the evaluation criteria and solicitation schedule.

With Massachusetts now the clear leader in the USA offshore market, both in capacity procured and supply-chain commitments, and NY planning to launch its own 800MW procurement round by the end of this year, New Jersey needed a big solicitation to seize the industry's attention.

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