Offshore Wind (OSW)
The Trump administration is moving to close the door on U.S. offshore wind development by remanding approvals for all projects not already under construction.
When a government’s word is no longer its bond, investors get nervous, and investors in clean energy generation plants in the United States are very nervous indeed, says columnist Dej Knuckey.
The addition of 3,500 MW of offshore wind capacity would have reduced ISO-NE energy market costs by about $400 million over the past winter, according to a recent study by Daymark Energy Advisors.
The work was designed to help connect the New Jersey offshore wind projects to the grid.
The Massachusetts Department of Energy Resources will delay its next offshore wind solicitation until “at least 2026” due to uncertainty around federal permitting, tax credits and tariffs.
The Trump administration has taken further steps to thwart renewable energy development, adding new directives limiting wind and solar development on federal land and at sea.
The Department of the Interior on July 29 announced a four-pronged review that continues the president’s efforts to limit some types of renewable energy.
Equinor is taking a nearly $1 billion impairment on its U.S. offshore wind development efforts, blaming the Trump administration’s anti-wind power crusade for the impact.
California’s first offshore wind project got a boost when FERC granted CalGrid an abandoned plant incentive for a set of OSW-related transmission projects in the Humboldt County area.
New England’s offshore wind ambitions were dealt a further setback as contract negotiations under way for most of the past year were extended again, potentially into 2026.
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