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Financing offshore wind farms
Offshore wind developers appear to be moving toward a consensus on how the state should finance the building of wind farms off the Jersey coast, but it could be at least three to five years before wind turbines start churning out power.
In a meeting at the Board of Public Utilities (BPU) offices in Trenton, developers, power suppliers and utility executives yesterday debated the details of how the wind farms would earn offshore renewable energy credits (ORECs) for the electricity their wind turbines generate. (Johnson, NJ Spotlight)