Bucco, Testa press Murphy on details of Ørsted wind farm failure

One day after Ørsted canceled a controversial offshore wind project,  two Republican state senators want Gov. Phil Murphy to immediately release the collapsed project’s financial details and direct Attorney General Matt Platkin to seek a return of all state money already spent, even though litigation.

Senate Minority Leader Anthony Bucco and State Sen. Michael Testa, Jr. (R-Vineland) are pushing Murphy to “finally bring accountability to the incredible waste of taxpayer money spent on this failed project.”

“We respectfully request an explanation as to when Orsted notified State officials that they were abandoning the project, whether legislative leaders were notified in advance of the announcement, and what, if any, steps were taken by your Administration to delay action on a public announcement?” Bucco and Testa said in their letter to Murphy.

The New Jersey Globe has confirmed that administration officials knew about the likely cancellation last week and that Democratic legislative leaders were informed early yesterday.

Bucco and Testa strongly suggested that if Republicans capture either house of the legislature next week, the cancellation of the Ørsted offshore wind project will be the subject of a legislative hearing.

“Depending on the outcome of legislative elections next week, we will be advancing, or requesting, special Senate committee action to review all of these documents as well as others,” they said.  “We want transparency and accountability for this colossal waste and failure so nothing like it happens again.”

The two senators also seek assurances that the Murphy administration is “exhausting every effort to regain up to $1 billion in cash and tax credits allocated to this boondoggle.”

“Aggressive, and public legislative inquiries are long overdue,” Bucco and Testa said.

They want a “full accounting and status of the more than $1 billion of appropriations and tax credits that your Administration was advancing to, or spending on behalf of, failed wind farms.”

The two senators said that the Office of Legislative Services told them during the budget process that there was a $265 million Joint Budget Oversight Committee authorization for wind turbine projects, tax credits, and miscellaneous state budget appropriations.  Administration officials have said that a $1 billion tax credit approved by the Legislature in June only kicks in if the project was completed.

“Any responsible administration would regularly maintain an accounting of all such subsidies and their status, so we are asking that the accounting be provided immediately,” the two lawmakers told Murphy.

Bucco and Testa also want to see financial models and representations the Governor’s office relied upon as they sought special legislation on an emergent basis in June.

“That special legislation allowed Orsted to keep considerable federal tax credits that were otherwise required to be used for utility rate stabilization.  While that legislation was rushed through the Legislature, there were reports that financial modeling was made available to you and Democrat(ic)  legislative leader,” they said.   “Financial modeling and accompanying representations shared with only a select few people can and should be provided to the full Legislature and public immediately.”

Additionally, the GOP senators want unredacted copies of Ørsted’s escrow agreements., and all documents explaining the “continued viability of wind farms and/or showing timelines for the completion of various stages of the project.”