Atlantic Shores Files Request to Cancel Offshore Wind Projects

On Jun 9, 2025

Atlantic Shores Offshore Wind, the Brooklyn-based company that was in the process of planning its Project 1 and 2 offshore wind farm developments off the New Jersey coastline, has filed a request with the New Jersey Board of Public Utilities (NJBPU) to terminate its Offshore Renewable Energy Certificate Order (OREC), which would cancel both projects.

The reasons given were both economic and political: High inflation and interest rates that increased costs for steel and manufacturing supplies; supply chain disruptions as a result of the war in the Ukraine; and President Donald Trump’s memorandum issued this past January halting all federal permitting and approval work for wind power on the grounds that they need re-evaluating.

The U.S. Environmental Protection Agency’s Environmental Appeal Board then took away Atlantic Shore’s air permit which it received in 2024. According to the company, it cannot construct the projects without the permits.

Adam L. Peterson, an attorney for Atlantic Shores, wrote in the OREC filing to the NJBPU that “due to the uncertainty caused by the Presidential Wind Memorandum, the subsequent loss of the air permit, and other actions taken by the current administration more generally, Petitioner’s (Atlantic Shore’s) parent company has been forced to materially reduce its personnel, terminate contracts, and cancel planned project investments.”

Atlantic Shores’ Project 1 called for turbines that would deliver 1,510 megawatts (MW) of renewable energy, enough clean energy to power more than 700,000 homes in the state. Project 1 alone was slated to yield $1.9 billion in economic benefits to New Jersey, all while annually reducing in-state greenhouse emissions by about 4 million tons.

Combined with Project 2, the offshore wind turbines would have produced enough clean energy to power more than 1 million New Jersey homes.

In an Asbury Park Press article, Atlantic Shores CEO Joris Veldhoven said the NJBPU filing marks the close “of a chapter, but not the end for Atlantic Shores.”

He was quoted as saying: “Offshore wind continues to offer New Jersey a strong value proposition that includes thousands of good-paying jobs, stable power prices, and real economic benefits. While no ratepayer money or subsidy was spent on Atlantic Shores Project 1, this reset period presents us an opportunity to ensure utility customers continue to get a fair deal for critical infrastructure delivery. And with record demand for electricity outpacing supply, one thing’s for sure: New Jersey needs more power generation.”

Atlantic Shores request follows energy company Orsted’s announcement in late October 2023 that it would cease development of its Ocean Wind 1 and 2 projects off the Jersey Coast. According to the company, the projects were experiencing significant impacts from factors including high inflation, rising interest rates and supply chain constraints.

To access more business news, visit NJB News Now.

Related Articles: