New Jersey is set to initiate its fourth offshore wind solicitation early in 2024, following an expedited schedule to bolster the state's ambitious target of achieving 11 GW of offshore wind turbine capacity by 2040.
Governor Murphy accelerated the timeline for the upcoming tender, aiming to solicit a greater number of proposals and announce winners at the outset of 2025. The competitive round was initially scheduled to commence in the third quarter of 2024.
Governor Murphy affirmed, “I have directed the Board of Public Utilities (BPU) to take this action in recognition of the strong future of New Jersey's offshore wind industry.”
Having conducted three previous auctions for offshore wind projects, New Jersey has already awarded 3.7 GW from the first two rounds. Winners from the third round, launched in March, are anticipated to be revealed by the end of this year. The solicitation has garnered proposals from key industry players including Shell New Energies, EDF Renewables North America, RWE, National Grid, and Invenergy.
In alignment with its commitment to achieving a 100% clean energy economy by 2035, New Jersey intends to host multiple offshore wind competitions through 2030, solidifying its position as a leader in renewable energy development.