- Jun 29, 2021 3:39 pm GMT
Reinvesting in Shoreline Economies & Ecosystems Act introduced by Louisiana and Rhode Island representatives would channel money into coastal protection
While the US presently has no commercial-scale offshore wind farms, President Joe Biden in March set national targets of 30GW by 2030 and 110GW by 2050, with his administration aiming to open up Pacific waters and the Gulf of Mexico to offshore wind development, while accelerating lease sales from Maine to South Carolina in the Atlantic.
A market that size would potentially produce billions of dollars in royalties on production over the next three decades. The flagship 800MW Vineyard Wind, in May cleared for construction, is scheduled to begin exporting electric power to the grid in the second half of 2023. Another 11 projects have state off-take commitments or contracts for 10.7GW of nameplate capacity
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