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An attorney representing Invenergy told the New Jersey Board of Public Utilities in a Friday filing<\/a> that the company\u2019s 2.4-GW offshore wind project, Leading Light Wind, is canceled.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Invenergy \u201chas determined it cannot move forward with the project under the terms and conditions set out\u201d when the <\/span><\/span><\/span><\/span><\/span><\/span>BPU awarded it<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a> offshore wind renewable energy certificates in January of last year, the filing said. Invenergy \u201cregrets this decision \u2026 and looks to the future for possible solicitations.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n \u201cThe [BPU] is well aware that the offshore wind industry has experienced economic and regulatory conditions that have made the development of new offshore wind energy projects extremely difficult,\u201d the filing said.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Invenergy says it\u2019s <\/span><\/span><\/span><\/span><\/span><\/span>North America\u2019s largest privately-held developer, owner and operator of clean energy solutions, with 36 GW of projects under its belt. Leading Light Wind was being developed off the coast of New Jersey and was set to become operational in 2030.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n The filing cites financial, supply chain and regulatory obstacles as reasons the project is no longer viable. Invenergy and the project\u2019s co-sponsor, energyRe, sought several delays from the BPU as they failed to meet filing deadlines due to issues like an inability to find a turbine supplier, it said.<\/p>\n Invenergy was granted a stay last September, then extended that stay three more times before filing about its intention to abandon the project.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n In its May filing, Invenergy said that \u201cgiven ongoing market and policy uncertainty, Leading Light Wind will continue to focus on meeting its lease obligations.\u201d The Friday filing said the company since concluded that it doesn\u2019t see a path forward for doing so.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n \u201cThe Company has invested considerable time and financial resources in the development of [Leading Light Wind] and remains firmly of the view that [Leading Light Wind], and offshore wind energy development, can provide significant benefits to New Jersey and its residents,\u201d the filing said.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n