Deepwater utility group wins New Jersey offshore wind bid
New Jersey is one step closer to bringing an offshore wind farm to the coasts of the U.S. Garden State Offshore Energy (GSOE), a joint venture between utility Public Service Enterprise Group (PSEG) Renewable Generation and Deepwater Wind, was selected by the New Jersey Board of Public Utilities today to build an offshore wind farm far off the Jersey coastline. The proposed 350-megawatt wind farm would consist of 96 turbines nearly 20 miles offshore. GSOE will receive a $4 million state grant to help cover permitting costs and spur project financing though the final project, to be completed by 2012, will likely cost well over $1 billion, according to the state.