Fishermen's Energy Fails to Meet DoE Funding Deadline

Fishermen's Energy failed to reach a funding milestone of finalising a power purchase agreement by the end of 2016, in accordance with the 2014 grant from the DOE. As a result, the project will miss out a majority of the $47 million in funding, awarded to them. Approximately $10.6 million of the funding had already been spent in earlier funding rounds. The project was due to install six 4 MW turbines off the New Jersey coast.