2.4-GW New Jersey offshore wind project canceled by developer | Dump Trucks Charlotte NC

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An attorney representing Invenergy told the New Jersey Board of Public Utilities in a Friday filing that the company’s 2.4-GW offshore wind project, Leading Light Wind, is canceled.

Invenergy “has determined it cannot move forward with the project under the terms and conditions set out” when the BPU awarded it offshore wind renewable energy certificates in January of last year, the filing said. Invenergy “regrets this decision … and looks to the future for possible solicitations.”

“The [BPU] is well aware that the offshore wind industry has experienced economic and regulatory conditions that have made the development of new offshore wind energy projects extremely difficult,” the filing said.

Invenergy says it’s North America’s largest privately-held developer, owner and operator of clean energy solutions, with 36 GW of projects under its belt. Leading Light Wind was being developed off the coast of New Jersey and was set to become operational in 2030. 

The filing cites financial, supply chain and regulatory obstacles as reasons the project is no longer viable. Invenergy and the project’s co-sponsor, energyRe, sought several delays from the BPU as they failed to meet filing deadlines due to issues like an inability to find a turbine supplier, it said.

Invenergy was granted a stay last September, then extended that stay three more times before filing about its intention to abandon the project.

In its May filing, Invenergy said that “given ongoing market and policy uncertainty, Leading Light Wind will continue to focus on meeting its lease obligations.” The Friday filing said the columbus oh dump truck company since concluded that it doesn’t see a path forward for doing so.

“The Company has invested considerable time and financial resources in the development of [Leading Light Wind] and remains firmly of the view that [Leading Light Wind], and offshore wind energy development, can provide significant benefits to New Jersey and its residents,” the filing said.