The US offshore wind industry can navigate the “unprecedented” economic headwinds buffeting the sector to deliver gigawatt-scale ambitions and a domestic supply chain this decade, IPF 2023 will hear.
Challenges facing the nascent market will come under the spotlight when 20 sector and government leaders take to the stage in Baltimore on Wednesday, at the main plenary session.
Jeff Grybowski, chief executive of developer US Wind and industry veteran, is among a panel that will discuss how the economic situation is threatening commercial-scale progress as rising costs and tightening supply chains are pushing developers, manufacturers, and suppliers to the brink.
Grybowski said ahead of the event he believes policymakers understand that business shocks of the past year have put real pressure on the industry, and he remains upbeat about its prospects.
Orsted Americas chief executive David Hardy will speak on a later panel discussion during the plenary session regarding how the Inflation Reduction Act has the potential to drive the sector to new heights.
The Danish company is already in construction on its 132MW South Fork, which Hardy said is on schedule to be fully operational this year. He remains confident despite booking a $365m impairment on the 924MW Sunrise Wind project due to inflation, rising interest rates and higher prices in the supply chain.
For the full story see today’s reNEWS Live@ IPF 2023 show daily previewing the event in Baltimore.
Also in the special edition is news coverage highlighting the main supply chain messages, challenges in the Gulf of Mexico, the latest on floating wind and the implications of new grid legislation for offshore wind – all key topics to be debated at the Business Network for Offshore Wind conference.
An op-ed from the latter’s chief executive Liz Burdock is also in the show daily, as well as an in-depth Q&A with Grybowski as well as a feature on rising cybersecurity risks.
A second reNEWS Live@ IPF 2023 edition is due out on Thursday with all the news from the first days of the Baltimore show.