The U.S. Federal Energy Regulatory Commission (FERC) today granted conditional approval to the 250-mile Atlantic Wind Connection project that plans to interconnect up to 6,000 MW of offshore wind power. Subject to the project being included in regional grid manager PJM Interconnection’s regional transmission expansion plan, FERC granted an overall return on equity (ROE) of 12.59%, which includes 250 basis points in incentive ROE adders. Atlantic Wind had requested 300 basis points.
New Jersey's Republican governor Chris Christie said Monday that the state’s Board of Public Utilities (BPU) would accept applications for offshore wind farms through June 14. Christie said the action is part of his agenda to move the state toward an economic and environmental agenda that promotes clean and renewable energy.
Danish power company DONG Energy says it will sell 50% of its Anholt offshore wind farm -- now under construction 13 miles off the northeastern coast of the Jutland Peninsula -- for DKK6 billion ($1.13 billion) to pension fund investors PensionDanmark (30%) and PKA (20%). With a capacity of 400 megawatts (MW), Anholt will be the largest wind farm offshore Denmark when completed in late 2013.