The Board of Public Utilities (BPU) proposes a pilot competitive production incentive and financing program to encourage the development of an offshore wind renewable electricity generation pilot project with an aggregate capacity not to exceed 350 MW. A maximum of 10% of the total grant production credit may be requested under the grant solicitation to be paid in the form of an upfront payment for design, engineering, and permitting costs. Expected timeframe for production credit is no longer than five years.
Solicitation for Proposals (SRP) to Develop Offshore Wind Renewable Energy Facilities Supplying Electricity to the Distribution System Serving New Jersey
New Jersey Board of Public Utilities (BPU)
Friday, October 5, 2007