Client Alert
| August 23, 2010
New Jersey Law Provides Offshore Wind Incentives and Manufacturing Facility Tax Credits
Last Thursday, New Jersey’s Governor Chris Christie signed the Offshore Wind Economic Development Act, a law designed to provide project-tailored subsidies to 1,100 MW of offshore wind capacity and to support the establishment of offshore wind-related manufacturing in the state. The law eliminates several economic barriers to offshore wind development. At least four offshore wind developers are expected to be competing for the subsidies.
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