Invenergy and energyRe announced the cancellation of the 2.4 GW Leading Light Wind project, which had been awarded Offshore Renewable Energy Certificates (ORECs) by the New Jersey Board of Public Utilities in January 2024. The developers cited severe economic challenges, regulatory uncertainties, and supply chain difficulties, including the inability to secure a turbine supplier, as reasons for the project cancellation. The project was scheduled to become operational in 2030 and held lease OCS-A 0542 covering 83,976 acres located 35 nautical miles off New Jersey. The cancellation follows broader challenges facing New Jersey’s offshore wind sector, including federal regulatory changes and market uncertainties affecting the industry. More information can be found here.
