By David Madden

CAPE MAY, NJ (CBS) — A Cape May-based energy company that lost their court appeal on a proposed offshore power project has offered a backup plan that they hope will address regulatory concerns in New Jersey.

Fishermen’s Energy fought for four years to allow a Chinese firm to build five wind turbines generating five megawatts of power each. The Chinese would also have financed the project.

(credit: Fishermen's Energy)

(credit: Fishermen’s Energy)

New Jersey’s Board of Public Utilities rejected that, and the courts have sided with them.

Utility CEO Paul Gallagher says they’ve come up with plan B. “Now we’re going to proceed with Siemens turbines, a smaller turbine, ” Gallagher told KYW Newsradio. “So we’re going to use six of them, six 4-megawatt turbines ones for a total of a 24 megawatt project basically at the same location.”

That would be three miles off the coast of Atlantic City. They’ll also go for more traditional western bank financing for the 200 million dollar plan, which includes a 50 million dollar federal grant.

Hopes are to get construction started in a couple years, assuming the BPU will approve.