FISHERMAN’S ENERGY BREAKS GROUND FOR TAX CREDIT

The Cape May-based Fisherman’s Energy broke ground on Tuesday by the Atlantic City Boardwalk, to prepare for underground electrical lines from non-existent offshore turbines. The company was denied financial support for their wind farm project from New Jersey’s Offshore Wind Economic Development Act of 2010 and has appealed the decision by the BPU. By starting the partially funded project in 2014, Fisherman’s Energy will be eligible for a federal tax credit for renewable energy projects begun during this calendar year. The company hopes the state funding issue can be resolved in N.J. Superior Court.