The PUC unamimously ruled against the project on the grounds that it was not financially viable. It also said the project's backers, which include Chinese turbine manufacturer XEMC, showed "at lack of financial integrity" during the application process.
According to the PUC, one of the issues surrounded the submission of financial statements in Mandarin rather than English. Another issue was an estimate that the project would bring in $4.4 million from tourism.
Last year, Fishermen's Energy installed a monitoring buoy at the site. The five-turbine, 25MW Fishermen's Atlantic City Windfarm (FACW) demo project is planned in state waters, initially.
The developer had obtained all state and federal permits needed for its construction. All that was needed was the approval from the PUC.
The planned 350MW Fishermen's Offshore New Jersey development would follow in the designated mid-Atlantic wind energy area.