Ørsted, the Danish company constructing offshore wind farms off New Jersey’s shoreline, intends to gain full control of one of the projects, Ocean Wind 1.
The company announced its acquisition of Public Service Enterprise Group’s 25% stake in the project Wednesday, giving it full ownership of the 1,100 MW offshore wind energy farm planned to be built 15 miles off the shore.
A dollar amount for the deal was not disclosed in the announcement. Read more from The Press of Atlantic City.