ATLANTIC CITY, N.J. (AP) — A company that wants to build a windmill power project off the coast of Atlantic City has won a victory in court.
A New Jersey appeals ruled in favor of Fishermen's Energy in a dispute over the company's plan.
The state Board of Public Utilities had denied approval for the project in April. The board ruled that a Chinese company that would own 70 percent of the project did not demonstrate financial integrity and hadn't shown it could get the necessary federal subsidies.
Fisherman's Energy appealed the rejection, and Monday's ruling will require the board to reconsider the project.
The company said in a statement Monday that the appeals court decision requires that the board factor into its reconsideration the company's executing of an agreement for a $47 million grant from the U.S. Department of Energy.
The company also said that the board must acknowledge the company's proposed price of $199 per megawatt hour instead of the $263 per megawatt hour it cited in its rejection of the project.
Environmental groups cheered the court decision Monday.
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