Atlantic City Wind Farm Project Loses Government Funding

U.S. offshore wind developer Fishermen's Energy has lost government funding for its 24MW Atlantic City Wind Farm project off the coast of New Jersey after missing a deadline to secure a power offtake agreement.

''The planned Atlantic City Wind Farm sponsored by Fishermen's Energy is one of three active advanced offshore wind demonstration projects the Department of Energy has supported through a cooperative agreement since 2012,'' a U.S. Department of Energy spokesperson said.

''Under the Energy Department's award, Fishermen's Energy must have secured a power offtake agreement by December 31st to be eligible for another round of funding. The criteria were not met by that date, so we have initiated the close out process for the project.''

Had the company secured the power offtake agreement, the project would have made it into the third budget period, which would have made USD 40 million available to the company under the award.

The company had already spent USD 10.6 million in federal funding in the previous two budget periods of the award.

The Atlantic City Wind Farm is a USD 200 million demonstration project comprising six Siemens 4MW turbines installed some three miles off the coast of Atlantic City.

In May 2016, the Department of Energy granted the project a no-cost extension until the end of the year to secure a power offtake agreement and continue to receive funding as one of DOE’s three Offshore Wind Advanced Technology Demonstration Projects.

The remaining two projects still eligible for funding are Lake Erie Energy Development Corporation's Icebreaker project, and the University of Maine's New England Aqua Ventus I project.

Related news

List of related news articles

Posted: 9 months ago

Swedish Offshore Wind Farm Is No More

Offshore wind O&M specialist Ziton has completed the decommissioning of the Utgrunden offshore ...

Categories:
  • Business & Finance
Posted: 9 months ago
  • video
Posted: 7 months ago

EU Commission Okays Dunkirk OWF Funding Plan

The European Commission had approved the public funding that France plans to put in place for the co...

Categories:
  • Business & Finance
Posted: 7 months ago
Posted: 9 months ago

Investors Showing Great Interest in Taiwanese OW Project

Funding for wpd’s Yunlin offshore wind project in Taiwan is close to completion and negotiations wit...

Categories:
  • Business & Finance
Posted: 9 months ago
Posted: 9 months ago

SSC Wind and Robur Combine Forces

SSC Wind and Robur have signed an agreement to join forces with an aim to expand their wind energy s...

Categories:
  • Business & Finance
Posted: 9 months ago