The New Jersey Board of Public Utilities (NJBPU) has approved an order to implement Governor Phil Murphy's executive order to develop up to 3.5GW of offshore wind off the US state.
The order calls for the full implementation of the Offshore Wind Economic Development Act and to start moving towards the first solicitation of 1.1GW of offshore wind capacity.
NJBPU staff will establish an interagency Offshore Wind Task Force with the New Jersey Department of Environmental Protection and other state agencies to develop a strategic plan for offshore wind.
The goal is to ensure competition, competitive pricing, net economic benefits, and the best value for New Jersey ratepayers, the board said.
It is also directing staff to initiate the rule making process to establish a funding mechanism for offshore wind renewable energy certificates (ORECs).
Staff at the board will consult with stakeholders on the “minimum requirements of the OREC funding mechanism” and the 1.1GW solicitation.
New Jersey will also examine options for a regional offshore wind roundtable with other states in the north-east and mid-Atlantic region.