The final approval still needs to come from the US Army Corps of Engineers. If this is given, construction could start in 2012.
In February, it was revealed that the company, which is backed by commercial fishing firms, had applied to the state Board of Public Utilities (BPU) for approval of the project.
The second phase of the New Jersey project, planned to follow the demonstration phase, would be seven miles off the coast and have 66 turbines with a capacity of about 330MW.