Politics & Policy

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Wind turbines, North Sea

Virginia offshore wind project approved while others falter

The same day Virginia’s approval was announced, New Jersey’s offshore wind contractor also made an announcement: It’s pulling out of the Garden State’s Ocean Wind 1 and 2 projects due to unsustainable project costs and supply chain issues amounting to a shortfall of $4 billion, despite having been granted a $1 billion tax credit from the state.