New Jersey selected a joint venture between state utility Public Service Enterprise Group (NYSE: PEG) and privately held Deepwater Wind to develop a 345-megawatt wind farm off the state’s coastline, about 16 miles southeast of Atlantic City. The project is part of New Jersey’s ambitious plan to develop 1,000 megawatts of capacity by 2012, and then to increase that to 3,000 megawatts by 2020, providing 13% of the state’s energy needs.