The New Jersey Board of Public Utilities (NJBPU) has announced that the five proposals that were submitted for the New Jersey Offshore Wind Solicitation Grant are now available for public perusal.
The proposals came from Environmental Technologies LLC, Fishermen's Energy of New Jersey LLC, Garden State Offshore Energy, Occidental Development & Equities LLC and Bluewater Wind.
The solicitation sought proposals to install a maximum aggregate capacity of 350 MW in offshore renewable electricity generating technology at the economic terms and environmental performance most advantageous to the New Jersey ratepayer and taxpayer. A maximum grant award of $19 million was offered, with as much as 10% available in pre-construction funds and the remainder to be paid based upon production of electricity.
Funding has been budgeted in the New Jersey Clean Energy Program's 2008 renewable energy budget, with payment to be processed through a cooperative agreement with the New Jersey Economic Development Authority.
The evaluation committee will develop an award recommendation based upon review of the proposals that will be presented to the NJBPU. The committee will seek to reach a consensus decision as to which respondent, if any, are to be recommended for the contract award. The committee's work concludes with NJBPU's acceptance of its report, which will contain the recommendations regarding grant award.
The evaluation committee is expected to make a recommendation at its regularly scheduled meeting on Oct. 2.
SOURCE: New Jersey Board of Public Utilities