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USA: Offshore wind - Atlantic Coast

Market opportunity: Offshore wind - Atlantic Coast

Key details

Opportunity: Offshore wind - Atlantic Coast

Country: USA

Sector: Energy

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 on the first 800MW project is expected to start in 2021.

Scale of opportunity

The existing project pipeline within the USA offshore wind market is estimated to be $70 billion USD.

However, this does not include port or civil works or onshore/offshore transmission upgrades. Ports and transmission opportunities would add a further $1020 billion USD.

Eligible companies

Supply chain companies in preliminary subsea engineering surveys; data analysis.

Supply chain companies involved in workforce and supply chain development and low carbon port infrastructure.

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