As it continues its long battle for project approval from New Jersey regulators, offshore wind developer Fishermen's Energy has released a ‘Job Creation and Economic Content’ report.
According to the report, the developer's 25 MW demonstration wind project off the coast of Atlantic City will create almost 500 jobs and bring more than $150 million in direct investment into New Jersey.
"This project is just a down payment on job creation," says Chris Wissemann, CEO of Fishermen's Energy. "Iowa took a leadership position in the land-based wind business a decade ago and garnered more than 80 new suppliers and generated more than 3,200 jobs in that state. New Jersey is poised to do the same in offshore wind."
In March, the New Jersey Board of Public Utilities (BPU) rejected Fishermen's project application, claiming that the energy price was too high. The developer maintained that its proposed price was much lower and appealed the ruling.
In August, the Fishermen's project got two major boosts: The U.S. Department of Energy awarded the developer a $47 million grant, and a court ordered the BPU must reconsider the project application.
"We expect that with our lower price supported by funding from the U.S. Department of Energy, the New Jersey Board of Public Utilities will approve the project and make way for this vital job creation," says Wissemann.
