The developer of the 2.4 GW Leading Light offshore wind project has informed the New Jersey Board of Public Utilities (NJBPU) that it will not move forward with the project.
In a letter filed with NJBPU , the developers, Invenergy and energyRE, said that the company has faced a series of obstacles in the development of the offshore wind farm, including supply chain, equipment, and vendor challenges, as well as changing regulatory requirements.
Invenergy and energyRE were obligated to meet offshore renewable energy certificate (OREC) milestones , but repeated federal permitting delays and earlier regulatory hurdles stalled progress, and after seeking several extensions, the developers ultimately concluded the project could not move into construction.
The company also said that it will continue to develop the project as conditions allow and may participate in future OREC solicitations authorised by NJBPU.
The 2.4 GW Leading Light Wind offshore project was planned to be built approximately 40 miles off the New Jersey coast.
Another company that recently decided to reduce its activities in the US offshore wind is JERA Nex BP. The company said that it sees no viable path to advance its Beacon Wind project and decided to cease its investment in the market.