Orsted, New Jersey reach settlement over canceled offshore wind farms-March 2024-www.financetom.com

Orsted, New Jersey reach settlement over canceled offshore wind farms

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Orsted, New Jersey reach settlement over canceled offshore wind farms

May 28, 2024 10:07 AM

May 28 (Reuters) - New Jersey officials said the state

will receive $125 million from a legal settlement with Denmark's

Orsted over the company's cancellation last year of

two offshore wind farms.

In a statement from the New Jersey Board of Public

Utilities, the state said the funds will be used for investments

in wind component manufacturing facilities and wind farms.

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