NEWARK, N.J., Nov. 23, 2010 /PRNewswire/ -- Scott Jennings, president of PSEG Global, issued
the following statement regarding Secretary of the Interior
Ken Salazar today announcing an
initiative to facilitate siting, leasing and construction of
offshore wind projects off the Atlantic Coast:
"This is welcome news, a promising step forward. Secretary
Salazar should be commended for taking this initiative to reduce
red tape and help create an environment that supports clean energy
investments. Streamlining the leasing process by eliminating
unnecessary steps is an important component in making offshore wind
a commercially viable business. Today's announcement shows
that the Interior Department recognizes that a more certain and
expedited process can help unlock the potential of America's
offshore wind resources and that they are taking action to advance
those efforts.
"Developers continue to face many challenges to ensure that
offshore wind meets the needs of various stakeholders –
environmental objectives, achieving economic development benefits
through job creation and developing projects in a cost-effective
manner for consumers. We continue to work within New Jersey's balanced policy that establishes
a net positive benefits test where economic development and other
system benefits must outweigh the cost of the program. A more
certain and streamlined leasing and permitting timeline improves
the prospects of meeting these objectives and launching this
industry.
"We look forward to working with the Interior Department and the
State of New Jersey in the next
step in this process when they issue a Request for Interest for
New Jersey sites."
Public Service Enterprise Group (PSEG) (NYSE: PEG) is a
publicly traded diversified energy company with annual revenues of
more than $13 billion, and three
principal subsidiaries: PSEG Power, Public Service Electric and Gas
Company (PSE&G) and PSEG Energy Holdings.
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SOURCE Public Service Enterprise Group (PSEG)