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Orsted will pay N.J. $125M for pulling out of wind projects

The settlement is less than half the $300 million Orsted originally guaranteed if it failed to build its first wind farm off the state’s coast.

File: A completed monopile foundation at EEW AOS, which manufactures them for offshore wind turbines, in Paulsboro, Gloucester County.
File: A completed monopile foundation at EEW AOS, which manufactures them for offshore wind turbines, in Paulsboro, Gloucester County.Read moreJessica Griffin / Staff Photographer