The group said the project had received an approval from the US Army Corps of Engineers. Fishermen's Energy said it now had the required approvals to proceed with the wind farm.
Construction of the project is likely to begin in 2013 with a view to installing the turbines in 2014. Financing could come via Chinese manufacturer XEMC.
The information emerged in a report by Acadian Consulting Group commissioned by the New Jersey state. It said project financing might include a 70% project equity stake from XEMC.
Even though the turbines would be constructed in-state, the project could use XEMC's direct-drive 5MW, XE115-5000. The first prototype of the turbine was installed in China in March.
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.
Fishermen’s Energy secured the final state approval for the 25MW test project in May. The state has both given permission to connect the turbines to a nearby substation, and approved the location of the machines that will make up the project.