Items Tagged with 'Offshore wind energy construction'

US auction of first Atlantic Ocean floating wind project sites gains buyers, but market players show caution in facing impact of changed political support

Second state marshaling port would propel growth of the market as it recovers from financial woes and the July accident that suspended work at the $3-billion Vineyard Wind site.

Feds propose 557 sq miles of new Atlantic ocean tracts for development and set Aug. 29 for first Gulf of Mexico auction of three large sites, but projects now confront rising costs for the first time.

Second Massachusetts project, SouthCoast Wind, files to terminate project power agreement, and could face up to a $60-million fine, while developers in New York and New Jersey seek contract cost adjustments

Report says US sector hit big development milestones last year, including project movements and three federal lease auctions that added 11.4 GW in capacity, with another set in the Gulf of Mexico, but advocacy group says this still likely won't meet Biden call for 30 GW of power deployed by 2030.  

But state regulator declined Dec. 30 to developer request to cancel its power supply contracts on $3.7B Commonwealth project as inflation takes toll on costs, while N.J. ratepayer watchdog asks state to reduce its offshore wind development pace.