Governor Phil Murphy and the New Jersey Board of Public Utilities (NJBPU) have announced the acceleration of the state’s offshore wind solicitation schedule, moving the projected opening of the fifth offshore wind solicitation from the third quarter of 2026 to the second quarter of 2025.
The NJBPU also announced a pause on advancing the Second State Agreement Approach (SAA) for coordinated offshore wind transmission planning with regional grid operator PJM Interconnection (PJM). This decision follows the Federal Energy Regulatory Commission’s (FERC) release of Order 1920, which addresses long-term regional transmission planning, and PJM’s ongoing interconnection queue reform process, both of which impact planning and costs. Pausing at this time allows Board staff to fully evaluate the implications of the new FERC rule and participate in PJM’s process to ensure the best outcome to meet New Jersey’s transmission needs at the lowest cost to ratepayers.
Additionally, the Murphy Administration announced that the state and NJBPU have settled their claims against Orsted arising from Orsted’s decision to cease development on the Ocean Wind 1 and Ocean Wind 2 projects (the “Ocean Wind Projects”). Under the settlement, the state and Orsted have agreed to release claims against each other related to the Ocean Wind Projects, and the state will receive USD 125 million. The funds will be used to support investments in qualified wind energy facilities, offshore wind component manufacturing facilities, and other clean energy programmes to achieve the state’s clean energy goals under the Energy Master Plan.
