Orsted Backs Out of NJ Offshore Wind Projects, Murphy Seeks $300M But Payment Not Guaranteed

Orsted backed out of two major offshore wind projects in New Jersey, which were a cornerstone of Gov. Phil Murphy's clean energy agenda.

Murphy administration claims Orsted now owes NJ $300M for backing out, but getting the money is not guaranteed due to permit and legal issues.

Orsted cites permitting problems with federal air quality permit from EPA as a factor in canceling the project.

Whether NJ gets the $300M depends on interpretation of legal language allowing Orsted to keep money if "commercially reasonable efforts" were made.

NJ Republicans calling for review of Murphy administration's dealings with Orsted, could investigate if they gain power in upcoming legislative elections.