The pipeline of US offshore wind projects permitted for construction tripled in the third quarter of 2023, up to 2700MW, with more approvals expected to come in the fourth quarter.
These and other findings are detailed in the Business Network for Offshore Wind’s US Offshore Wind Quarterly Market Report, which documents key investments announced over the past three months.
Three projects, totalling 3.2GW, have officially announced contract terminations and each project will attempt to secure a new contract in upcoming state procurement rounds.
The third quarter saw California move closer to offshore wind deployment with new authority to buy power generation as well as New England states strengthen their collaboration.
“The US offshore wind market felt its growing pains over the past quarter, taking two steps forward and two steps back.
“We celebrated our first two utility-scale projects on the verge of delivering power to the grid, a monumental milestone a decade in the making-but simultaneously suffer project delays and continued supply chain challenges,” said Liz Burdock, founder and CEO of the Business Network for Offshore Wind.
“Building up a new industry was always going to include challenges and setbacks; right now we must remain diligent in our work to build a sustainable industry and supply chain.
“Beyond the headlines, we saw important advancements in our permitting process, state collaboration, and continued supply chain development that will lay the foundation for long-term market strength.”