On Tuesday, February 11, 2020, the White House called for increase spending on efforts to manage the growth of offshore renewable energy development – including offshore wind energy – in the U.S. The government’s proposed FY2021 budget includes a nearly $5 million dollar budget increase earmarked for offshore renewable energy in the Bureau of Ocean Energy Management (BOEM), a division of the Department of the Interior, to $26.5 million over the current $21.3 million.
Van Oord and Saare Wind Energy have agreed to combine their forces and mutually develop the Saaremaa offshore wind farm. Saare Wind Energy is an Estonian developer involved in developing the offshore wind farm, covering 154 square kilometers, south-west of the Estonian island Saaremaa.
The U.S. Offshore Wind Roundtable Discussion brings stakeholders together for dialogue on the supply chain capabilities and the present state of the U.S. offshore wind market.
According to fresh research by Rystad Energy, installed offshore wind capacity in US waters could reach 20 gigawatts (GW) by 2030 and annual investments in the sector could surpass $15 billion by the mid-2020s. Such a trajectory means capital expenditure in US offshore wind will likely exceed those in US offshore oil and gas within the next five years – a truly remarkable development.
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