Fishermen’s misses PPA deadline
NJ project fails to secure offtake agreement in time for federal money
Fishermen’s Energy has missed out on $40m of federal funding for the 24MW Atlantic City offshore wind farm demonstration project, after it failed to secure a power offtake agreement by a 31 December deadline.
A US Department of Energy (DoE) spokesperson said: “Under the Energy Department's award, Fishermen's Energy must have secured a power offtake agreement by 31 December to be eligible for another round of funding.
“The criteria were not met by that date, so we have initiated the close out process for the project.”
Fishermen’s Energy has received a total of $10.6m in federal funding in two previous budget periods, the DoE said.
The company has not responded to a request for comment.
Image: Fishermen's Energy