[Jack]
THE WHITE HOUSE HAS APPROVED ANOTHER OFFSHORE WIND FARM-
A DEVELOPMENT WHICH COMES IN THE FINAL DAYS OF THE BIDEN ADMINISTRATION.
THE SOUTHCOAST WIND PROJECT WILL GENERATE UP TO 2.4 GIGAWATTS OF ENERGY-
POWERING MORE THAN 840,000 HOMES IN MASSACHUSETTS AND RHODE ISLAND.
IT SPANS NEARLY 130,000 ACRES, AND WILL INCLUDE THE CONSTRUCTION OF UP TO 141 WIND TURBINES.
TO ADDRESS ENVIRONMENTAL CONCERNS, SIX ORIGINALLY PLANNED TURBINE POSITIONS HAVE BEEN REMOVED-
PART OF AN EFFORT TO REDUCE POTENTIAL IMPACTS TO MARINE WILDLIFE.
THIS MARKS THE 11TH COMMERCIAL-SCALE OFFSHORE WIND ENERGY PROJECT TO MOVE FORWARD UNDER PRESIDENT BIDEN.
IN ALL, THE CURRENT ADMINISTRATION HAS NOW GREENLIT FOR DEVELOPMENT OVER 19 GIGAWATTS OF POWER FROM THIS RENEWABLE ENERGY SOURCE-
ENOUGH TO KEEP MORE THAN 6 MILLION HOMES RUNNING.
BUT WHILE THE SECTOR HAS EXPERIENCED GROWTH IN THE U.S. AS A RESULT OF BIDEN-ERA POLICIES-
2024 ALSO SAW MULTIPLE OFFSHORE WIND PROJECTS ENCOUNTER DIFFICULTIES.
RISING MATERIAL COSTS AND SUPPLY CHAIN DISRUPTIONS HAVE CAUSED A NUMBER OF DEVELOPERS TO BACK OUT.
BEFORE THE YEAR EVEN BEGAN, MULTIPLE PROJECT CANCELLATIONS FROM THE PREVIOUS YEAR ELIMINATED OVER HALF OF THE PLANNED INSTALLED CAPACITY FROM OFFSHORE WIND.
AS A RESULT, SIEMENS ENERGY, THE WORLD’S LARGEST MAKER OF OFFSHORE WIND TURBINES, IS ANTICIPATING FINANCIAL LOSSES IN 2024 OF AROUND 2.2 BILLION DOLLARS.
MEANWHILE, THE BLADE FAILURE AT THE VINEYARD PROJECT OVER THE SUMMER HAS HEIGHTENED ENVIRONMENTAL CONCERNS-
AND INTENSIFIED LOCAL OPPOSITION TO OFFSHORE WIND IN SOME AREAS.
WITH THE TRUMP ADMINISTRATION READYING TO TAKE OFFICE-
AND THE PRESIDENT-ELECT’S PROMISE TO KILL OFFSHORE WIND ENERGY ON DAY ONE OF HIS TERM-
WHAT THE FUTURE HOLDS FOR THIS INDUSTRY IN THE U.S. REMAINS UNCLEAR.
TO GET MORE STORIES ABOUT U.S. RENEWABLE ENERGY DEVELOPMENT , DOWNLOAD THE STRAIGHT ARROW NEWS APP AND SIGN UP FOR ALERTS FROM ME- JACK AYLMER.