Orsted Backs Out of NJ Offshore Wind Projects, Murphy Seeks $300M But Payment Not Guaranteed
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Orsted backed out of two major offshore wind projects in New Jersey, which were a cornerstone of Gov. Phil Murphy's clean energy agenda.
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Murphy administration claims Orsted now owes NJ $300M for backing out, but getting the money is not guaranteed due to permit and legal issues.
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Orsted cites permitting problems with federal air quality permit from EPA as a factor in canceling the project.
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Whether NJ gets the $300M depends on interpretation of legal language allowing Orsted to keep money if "commercially reasonable efforts" were made.
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NJ Republicans calling for review of Murphy administration's dealings with Orsted, could investigate if they gain power in upcoming legislative elections.
