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Market
NJ's investment allocation of Orsted funds by 2024
5
Resolution / Starting Odds
Solar Energy • 33%
Wind Energy • 33%
Hydroelectric Energy • 34%
Public records or statements from the New Jersey Department of Environmental Protection
Story
New Jersey to Receive $125 Million from Orsted in Legal Settlement Over Canceled Wind Farms
May 28, 2024, 08:57 PM
New Jersey officials announced that the state will receive $125 million from a legal settlement with Denmark's Orsted, a global renewable energy giant, over the company's cancellation last year of two offshore wind farms. The settlement amount is less than half of the $300 million Orsted originally agreed to pay if it failed to complete the projects. The dispute arose after Orsted decided to scrap the wind farms off New Jersey's southern coast last October. The state's Board of Public Utilities confirmed the settlement, which resolves claims against each other.
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Less than $10 billion • 25%
$10 billion to $50 billion • 25%
$50 billion to $100 billion • 25%
More than $100 billion • 25%
Private Investment • 25%
Federal Grants • 25%
State Funding • 25%
Public-Private Partnerships • 25%
Increase in investments • 50%
No increase in investments • 50%
Battery Storage • 20%
Solar Power • 20%
Wind Power • 20%
Natural Gas • 20%
Nuclear • 20%
Renewable energy projects • 25%
Oil and gas exploration • 25%
Power utility projects • 25%
Technological innovations in energy • 25%
Texas • 25%
California • 25%
New York • 25%
Florida • 25%