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August 21, 2023
Offshore Wind Industry Faces Tough Road Ahead Amid Escalating Costs and Delays
The industry faces headwinds from mounting opposition and financial challenges as projects approach key milestones.
The U.S. offshore wind industry is faced with a host of challenges including opposition over impacts to the environment and…Read the full report
Key Takeaways
- Federal regulators have approved the third commercial-scale offshore wind project, a 1.1 GW project to be developed by Denmark-based Ørsted off New Jersey.
- Citizen groups have launched a legal challenge against New Jersey legislation allowing Ørsted to retain federal tax credits for the state’s first utility-scale offshore wind project rather than passing on the benefits to ratepayers.
- New York has issued an addendum to its latest offshore wind solicitation, offering another opportunity for updated pricing to ensure the most competitive award group.
