Export opportunity – USA Atlantic Coast offshore wind

USA Atlantic Coast – offshore wind opportunity summary 

The USA offshore wind market is driven by State Renewable Portfolio (RP) and Offshore Renewable Energy Credit (OREC) financial subsidisation plans. 

States along the eastern seaboard have announced 25GW of RP/OREC contracts. There is a current pipeline of 9GW of projects pursuing Federal or State consents and construction of the first projects are now underway. Vineyard Wind (CIP/Avangrid) and South Fork Wind (Orsted) are currently being constructed and both aiming to be operational from end of 2023.  

Three projects, Revolution Wind (RI/MA), Ocean Wind (NJ) and Empire Wind I/II (NY) have received their Environment Impact Statement consent decree from the Bureau of Ocean Management. These projects will be proceeding in 2024-25 and represent over 2GW of offshore generation. 

Scale of export opportunity

The existing project pipeline in the USA offshore wind market is estimated to be $90-100 billion USD.  However, this doesn’t include port or civil works or onshore/offshore transmission upgrades – these opportunities add an additional $20-30 billion USD to the estimate. 

The US Department of Energy publishes an Offshore Wind Market annual report which provides the latest information on all US development regions and links to specific state and regional project updates.  

Read the 2023 edition on energy.gov opens in a new window  

Company suitability

Scottish companies best positioned to win this type of business will fit with some of the following: 

• Supply chain companies in preliminary subsea engineering surveys and data analysis
• Supply chain companies involved in workforce and supply chain development and low carbon port infrastructure
• Providers of cable-handling and back deck equipment rentals for inter-array and export cable operations
• Marine mammal survey, monitoring, and acoustic mitigation systems
• Companies which are already trading internationally