The U.S. offshore wind sector has seen a lot of activity recently, and things are looking surprisingly positive despite some challenges.  Despite some uncertainty post-November, federal and state actions are creating a strong sense of optimism.

The federal government plans to offer leases this year for at least 22 gigawatts (GW) of wind power across 16 sites, including the Central Atlantic, Gulf of Mexico, Gulf of Maine, and Oregon. Additionally, eight more leasing rounds are planned between 2025 and 2028/29, in line with the Inflation Reduction Act of 2022. These plans include both fixed and floating wind projects, giving developers confidence to invest in the necessary infrastructure.

States are also ramping up their activities. New Jersey has opened the 2024 solicitation for up to 4 GW of offshore wind, with more solicitations planned through 2030. New York, Maryland, Delaware, and other states are also moving forward with their offshore wind goals, leading to over 70 projects in various stages. This represents a huge investment opportunity, with over $420 billion in capital expenditure and about $9.8 billion in annual maintenance costs.

Canada is also advancing in offshore wind development. Newfoundland and Labrador have identified 77 areas for wind projects with a potential of 94.5 GW, while Nova Scotia has found six potential areas with over 34.5 GW of potential. These efforts show the growing momentum and investment in the offshore wind sector in North America.

Read More Here: Outlook ‘Surprisingly Positive’ for US Offshore Wind