The U.S. Department of Energy has promised up to $47 million to a Chinese-backed windmill project that has already been rejected twice by New Jersey regulators.
Fishermen’s Energy says it hopes the federal funds will convince New Jersey to finally approve its plan to put five windmills about three miles off the coast of Atlantic City.
The energy department selected Fishermen’s Energy on Wednesday as one of three windmill projects it says will lower costs, increase performance and overcome hurdles to installing more utility-scale turbines in American waters.
But the New Jersey Board of Public Utilities has ruled that a Chinese company that would own 70 percent of the project did not demonstrate financial integrity.
A board spokesman declined comment while Fishermen’s Energy is appealing the project’s denial.