The developer of a New Jersey offshore wind farm designed to power more than 700,000 homes has pulled the plug on the project, the latest setback for a sector whose prospects have worsened under the Trump administration.
“This filing marks the closing of a chapter,” Atlantic Shores Offshore Wind Chief Executive Officer Joris Veldhoven said in a statement Monday. Last week the company filed a motion with regulators to terminate the renewable energy certificates the project had been awarded. The certificates would have underpinned the project’s finances.
Long seen as a key resource to power major Northeast and Mid-Atlantic cities, offshore wind has struggled with inflation, supply constraints and now an administration intent on slowing its advance. The new president has long been critical of the technology and took particular aim at Atlantic Shores. A few days after his election, Trump called Atlantic Shores a disaster and halted federal funding of wind projects.
Atlantic Shores, planned about 8.7 miles (14 kilometers) off the coast, was meant to encompass as many as 200 wind turbines and provide as much as 2.8 gigawatts of power.
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