The New Jersey Board of Public Utilities (NJBPU) has received bids from three developers in response to its solicitation for 1,100MW of offshore wind. The three bidders are Equinor, Orsted and Atlantic Shores Offshore Wind, a joint venture between Shell and EDF Renewables North America.
The Board has selected an economic consultant to assist in the evaluation of the applications and has sent the award recommendation to the New Jersey Department of the Treasury. Board staff, with the support of the consultant, will review and evaluate the applications before providing a recommendation to the Board. The review will consider the requirement under the Offshore Wind Economic Development Act (OWEDA) that applicants must demonstrate “positive net-economic and environmental benefits for the State.” Guidance documents were provided to help developers calculate net economic benefits of proposed projects. A Board decision is anticipated in spring of 2019.