Siemens 4MW Turbines to Spin off Atlantic City

Fishermen’s Energy will utilize Siemens 4MW turbines and traditional sources of project financing for its Atlantic City Demonstration project, the company reported in a press release. 

“With the legal challenges behind us, we can now announce progress we have made to reconfigure the project to address the issues that the BPU raised in denying approval last year – namely cost, using proven turbines and traditional sources of project financing,” said CEO Chris Wissemann.

“We have been working with Siemens to utilize their 4 megawatt turbine – a turbine that is the class leader around the world and one that is ideally suited for waters off the coast of New Jersey,” said Wissemann. “We actually heard the BPU a long time ago, but the legalistic nature of the process has hindered our ability to work collaboratively with the BPU to agree on a solution.” 

“We hope that with the legal process concluded, we can engage in open discussions with the BPU on how a new application can be optimized to pass the BPU’s criteria for approval,” added COO Paul Gallagher. “By working together we believe we can reduce the cost to a level that meets BPU’s objectives.”

“Lastly,” said Wissemann, “we appreciate all the hard work that our past turbine manufacturer, XEMC, poured into New Jersey to help build a market here.”

Image: Siemens