Fishermen’s Atlantic City Wind Farm (FACW) was dealt another blow last week when Superior Court of New Jersey sided with New Jersey Board of Public Utilities (BPU).
BPU was legally challenged for denying the 25MW project an offshore wind renewable energy certificate over cost concerns.
The court noted the state regulatory board “was not persuaded that the risks and costs of using an unproven technology to produce electricity at prices several times the market price were offset by the asserted benefits of the project.”
Paul Gallagher, chief operating officer of Fishermen’s Energy , said “it is our intention to bring an appeal to the New Jersey Supreme Court.”
The developer is on a tight schedule to get BPU’s approval by summer in order to qualify for a $47m grant from the US Energy Department awarded last year.
Initially, Fishermen’s planned to reach commercial operation of 25 MW wind energy project by 2018.