New Jersey Gov. Chris Christie is expected to sign the Offshore Wind Economic Development Act today, according to a report in the Star-Ledger Wednesday.
The bill calls for $100 million in tax credits for offshore wind companies and will eventually require that a percentage of electricity sold in New Jersey come from offshore wind farms, the newspaper reported.
New Jersey’s Energy Master Plan sets a goal of 3,000 installed megawatts of offshore wind by 2020, according to the Star-Ledger report.
Wind Turbine Blade Factory Gets Louisiana Incentives
British wind turbine blade developer Blade Dynamics received $30 million in contingent state incentives to build a factory in Louisiana, according to a report on BrighterEnergy.org.
The factory would produce blades for offshore turbines, according to the article. Massachusetts-based American Superconductor Company reportedly invested in the British company and is interested in using the blades for a 10 megawatt offshore wind turbine.
The incentives rely on the company reaching financial and job creation benchmarks, BrighterEnergy.org reported.
Thu, Aug 19, 2010
Business, NY / NJ, South