Trenton, NJ—MAREC Action, an industry advocacy organization representing offshore wind, solar, and storage businesses active in the Mid-Atlantic region, issued the following statement following a decision by Ørsted to cease development of the Ocean Wind 1 and Ocean Wind 2 projects off the coast of New Jersey.
“We’re disappointed by the news of Orsted’s project cancellations as it represents a delay in the benefits offshore wind will bring to New Jersey’s small businesses and workforce. Factors that emerged after offshore wind projects received initial contracts from the State of New Jersey in 2019—historically high inflation, rising interest rates, and supply chain bottlenecks—contributed to a perfect storm that radically changed global economic conditions.
We applaud the Murphy Administration and the New Jersey Legislature’s efforts to support the State’s contracted projects. We also encourage the State to continue to support deployment of this new industry, including by keeping to a procurement schedule for additional wind projects. Timely procurement, permitting, and constructing can help lessen the effect of overall economic pressures on infrastructure projects. A consistent deployment of projects is also critical to developing and sustaining a homegrown supply chain in the state.
Nothing in this announcement changes the offshore wind industry’s strong fundamentals. New Jersey has several other offshore wind projects under development and there are over a dozen other projects in the Mid-Atlantic alone. Around the world, wind turbines are spinning on three continents and offshore 19 countries. Offshore wind is the largest deployable clean energy solution and any strategy for New Jersey to effectively combat climate change will need a strong wind industry. Furthermore, no other industry offers New Jersey the same opportunity to be truly energy independent and create family-sustaining jobs in the face of increasing global energy insecurity.” – Evan Vaughan, Executive Director, MAREC Action.
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MAREC Action (MAREC informally stands for “Mid-Atlantic Renewable Energy Coalition”) is a 501.c4 non-profit dedicated to the growth of renewable energy technologies that improve our environment, diversify our electricity generation portfolio, and boost economic development in the PJM grid region. Our mission is to improve and enhance the opportunities for renewable energy development in ten jurisdictions in the PJM region in and around the Mid-Atlantic, specifically: Delaware, District of Columbia, Kentucky, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, Virginia, and West Virginia. We provide education and expertise on the economic benefits and environmental sustainability of wind and solar energy; offer technical expertise and advice on operating and integrating wind and solar into the electrical power system; and promote fair policies, rules and regulations to expand the region’s electric transmission system to accommodate the growth of renewable energy usage.