USA: Fishermen’s Energy Welcomes ITC Extension

Fishermen’s Energy welcomes the news that Congress has extended the Investment Tax Credit (“ITC”).

“The announcement of an Investment Tax Credit (“ITC”) extension, coupled with the recent Department of Energy award to Fishermen’s Energy, will allow New Jersey to capture the economic benefits of offshore wind at a significantly lower cost” commented Rhonda Jackson, Communications Director of Fishermen’s Energy. “The Atlantic City demonstration project keeps New Jersey in a leadership position in offshore wind, set to capture the industry, build new manufacturing facilities, inspire investment and most of all create hundreds of jobs” continued Jackson.

Next Steps

Fishermen’s Energy has all Federal and State permits necessary for construction of the first demonstration offshore windfarm to be built in the US, making the New Jersey resort the birthplace of offshore wind in the Americas. Fishermen’s Energy will now focus on final contractor selection for the project, with special emphasis on New Jersey vendors.

Construction in Atlantic City is planned to commence onshore in 2013 with offshore construction and commissioning of the first grid connected US offshore windfarm in 2014.

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Press release, January 4, 2013; Image: fishermensenergy