Ørsted’s 1,100-megawatt offshore wind farm, Ocean Wind 1, is estimated to generate $1.17 billion in economic benefits, create thousands of jobs, and provide electricity to half a million homes in New Jersey.
TLDR*look for bold
On June 21, 2019, the New Jersey Board of Public Utilities (NJBPU) announced that Ørsted's Ocean Wind 1 Project was awarded a solicitation for the 1,100-megawatt offshore wind project.
Ocean Wind 1’s Construction and Operations Plan (COP) was submitted to the Bureau of Ocean Management (BOEM) on August 15, 2019, with updated versions submitted on March 13, 2020, September 24, 2020, and March 24, 2021.
BOEM reviewed and continues to review the plans, and on March 30, 2021, published a Notice of Intent to Prepare an Environmental Impact Statement for Ocean Wind 1.
The Notice of Intent initiated a 30-day public comment period and triggered the beginning of the State’s review process under a Federal Consistency review.
Ørsted’s construction commencement target is the first quarter of 2023, with commercial operations expected by the end of 2024.
Subject to federal timelines, construction, and other developments, Ocean Wind 1 could provide power to homes in NJ by late 2024.
The project aims to provide 7,500 MW of 100% renewable offshore wind energy for NJ residents by 2035 – that’s enough electricity to power more than 3.2 million homes in New Jersey.
Ocean Wind 1 estimates spending $695 million in New Jersey while creating 1,000 jobs per year during the construction phase of development.
An Operations and Maintenance base out of Atlantic City running the offshore farm will create 69 high-skilled jobs for the 25+ year lifespan of the project.
Ocean Wind 1 is also estimated to remove 110 million tons of CO2 from the atmosphere over the project's lifespan – the equivalent of removing 21.6 million cars off New Jersey roads.
The developer, Ørsted, is a Danish multinational power company based in Fredericia, Denmark. It is the largest energy company in Denmark and the world’s largest developer of offshore wind power by amount of built offshore wind farms.