New Jersey will receive $125 million from Ørsted, an energy supplying firm, as a settlement over the company’s withdrawal from two offshore wind farm projects

New Jersey will receive $125 million from Ørsted, an energy supplying firm, as a settlement over the company’s withdrawal from two offshore wind farm projects. The settlement, less than half of the initial sum Gov. Phil Murphy said Ørsted was obligated to pay. The settlement money will fund other wind development and renewable energy programs.

From New Jersey Monitor.