June 2, 2016 — The U.S. Department of Energy has announced a no-cost extension until the end of the year for Fishermen’s Energy Atlantic City Wind Farm to secure an agreement to sell its power and continue to receive funding as one of the department’s offshore wind advanced technology demonstration projects.
Fishermen’s Energy is currently in the second of five DOE funding stages, and has met all of the criteria to advance to the next stage once an “offtake” agreement – a plan to sell the energy – is reached. As the project advances, it will be eligible for nearly $50 million in federal funding. The DOE estimates that the offshore wind farm will become operational in 2018, which would make it one of the first commercial offshore wind projects in the U.S.
On Tuesday, Fishermen’s Energy Chief Operating Officer Paul Gallagher said the DOE always intended to have the demonstration project completed by 2018. “It’s within their right to want an offtake agreement,” said Gallagher.
But so far the state’s preferred method of selling energy has been through the powerful Board of Public Utilities and obtaining an offshore renewable energy certificate (OREC) that can be sold to power companies.