Amendments to the bill require Orsted to post a $200 million guarantee with the state, and prepare a report on the financial viability, possible environmental impacts and likelihood of finishing the project on time. New Jersey lawmakers are considering letting Danish offshore wind developer Orsted keep tax credits that it otherwise would have to return to ratepayers.Ī state Senate committee approved a bill Tuesday that would allow Orsted to keep federal tax credits to help counter what they termed lingering economic effects from the COVID-19 pandemic and elevated inflation. A final vote on the bill could come on Friday. The state Ratepayer Advocate says the bill could increase costs for consumers, but Orsted denies that is the case.A state Senate panel advanced a bill Tuesday that would allow Orsted to keep federal tax credits to help counter what they termed lingering economic effects from the COVID-19 pandemic and elevated inflation.
New Jersey lawmakers are considering letting Danish offshore wind developer Orsted keep tax credits that it otherwise would have to return to ratepayers.
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