Feds to Lease Ocean Floor Off N.J. Coast for Windmills

The federal government plans to lease nearly 344,000 acres of the ocean floor off the coast of New Jersey to companies interested in building offshore windmills to generate electricity. The Interior Department and the Bureau of Ocean Energy Management say that if fully developed, the leases could result in enough wind-generated electricity to power 1.2 million homes. The leases are to be sold Nov. 9. In July, construction started on Deepwater Wind’s $225 million, 30-megawatt offshore wind project off Block Island in Rhode Island that will provide electricity to Block Island and Rhode Island mainland consumers. So far, 13 companies have been qualified to bid on the New Jersey leases. On three occasions, New Jersey regulators have rejected a proposal from one of those companies—Fishermen’s Energy—to build windmills off the coast of Atlantic City, saying the applicant hadn’t demonstrated financial integrity, among other concerns. The company is appealing the rejection to the state Supreme Court...more