GLASSBORO – Former Senate President Steve Sweeney, advisory board chair of Rowan University’s Sweeney Center. for Public Policy, issued the following statement in the wake of Orsted’s decision to stop development of its offshore wind projects off the coast of New Jersey:

“Orsted’s decision to cease construction of Ocean Wind 1 and 2 is shortsighted, but offshore wind development will continue off the New Jersey coast. boosting job growth and improving our environment.

“Six offshore wind developers paid a record $4 billion for leases off the New Jersey coast from Monmouth to Cape May counties last year, and the state Board of Public Utilities is currently considering bids from a wide range of developers to provide electricity generated from offshore wind to New Jersey consumers.

“Orsted’s announcement shows the wisdom of the State’s decision to include a $300 million penalty in recently enacted tax credit legislation that Orsted will have to pay if it fails to move forward on construction.

“Orsted’s decision to keep its New Jersey offshore wind tracts indicated it is not giving up on developing Ocean Wind 1 and 2 in the future. The Governor should pursue all remedies to get Orsted to keep its original commitment.

“This underscores the need for New Jersey to take a diversified approach in transitioning to zero greenhouse gas emissions. South Jersey is going to be at the epicenter of our state’s energy solutions as home to the region’s nuclear industry, as the base for offshore wind, and as the winner in partnership with southeastern Pennsylvania and Delaware of a $750 million federal grant for hydrogen development.”