Orsted will buy the remaining 25% ownership stake in Ocean Wind 1 from New Jersey-based Public Service Enterprise Group.
Orsted, the Danish wind energy developer, will become the sole owner of the first offshore wind farm planned for New Jersey.
The 1,100 megawatt project to be located about 15 miles off the coast of southern New Jersey is expected to generate enough electricity to power about a half-million homes.approved thus far by the New Jersey Board of Public Utilities.
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