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Released December 11, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Since 2020, the U.S. Department of the Interior has approved eight commercial-scale offshore wind energy projects in federal waters, and has held five offshore wind lease sales, including offshore New York, New Jersey, the Carolinas, and the first-ever sales offshore the Pacific and Gulf of Mexico coasts. The U.S. Offshore Wind program was busy in 2024.
In fourth-quarter 2024, the department completed an offshore wind lease sale in the Gulf of Maine, which resulted in two provisional winners on four lease areas and more than $21.9 million in winning bids.
Secretary of the Interior Deb Haaland announced in April 2024 a new five-year offshore wind lease schedule, which includes up to 12 potential offshore wind energy lease sales through 2028. Future lease sales from the Bureau of Ocean Energy Management (BOEM) are anticipated in the Atlantic, Gulf of Mexico, Pacific and the waters offshore the U.S. territories in the next four years, including one each in 2025 and 2026, two in 2027 and four in 2028.
Over the summer, construction work was halted for a cleanup and investigation after a turbine in the 806-MW Vineyard Wind 1 OCS-A 0501 project failed due to a manufacturing flaw. Work resumed in August and Vineyard Wind continues to add turbines to the existing set of 10.
Vineyard Wind 1 is the first utility-scale offshore wind farm in Massachusetts, leading the way for additional projects. Industrial Info is tracking projects on 10 leases in that area of the Atlantic.
Click on the image at right for a map of Massachusetts-area offshore wind projects.
Ørsted's (Fredericia, Denmark) expansion project with Crystal Steel Fabricators Incorporated (Delmar, Delaware) at the Federalsburg Structural Steel Fabrication facility in Federalsburg, Maryland, continues apace, on track to finish in second-quarter 2025. When finished, the facility will be equipped to make wind turbine foundations as a part of a $70 million contract to supply U.S.-built turbines for Ørsted's mid-Atlantic offshore wind projects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for the project report.
Further south, Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) continues to make progress on its large Coastal Virginia Offshore Wind project (CVOW) 25 miles off the coast of Virginia Beach. When it comes online in 2026, this project is expected to produce 2,600 megawatts (MW) that will be delivered into an area of the PJM Interconnection known for its transmission constraints and dense collection of data centers that drive high demand in the area. Not only should the wind power reduce constraints during the day, it is also expected to balance the growing solar energy production in the area overnight. The CVOW project is currently installing monopole foundations for 176 turbines and constructing offshore substations. Subscribers to Industrial Info's GMI Power Project Database can click here for the project report.
Dominion also picked up the lease for Kitty Hawk North from Avangrid Incorporated (NYSE:AGR) (Orange, Connecticut) in fourth-quarter 2024 and renamed it CVOW-South. Subscribers can click here for the project report.
Click on the image at right for a map of Atlantic Renewable Leases Planning Areas.
On the West Coast, California's five leases have active projects in both Morro Bay and Humboldt Bay that cover a total of 373,268 acres about 25 miles offshore. The Even Keel, Atlas and Golden State windfarms are expected to connect to the onshore power grid at the Morro Bay Power Plant. In the Humboldt region, the wind additions will require a transmission grid update to bring the planned +3 gigawatts (GW) of power onshore.
Click on the image at right for a map of Pacific Renewable Leases Planning Areas.
As 2024 wraps up, the market is unsure about what will happen to the additional and existing leases and in-progress projects with the new Trump administration. Lease sales in Oregon and Washington offshore waters have already been postponed due to local concerns and TotalEnergies SE (NYSE:TTE) (Courbevoie, France) signaled in late November 2024 it would pause its 2.75-GW Attentive Energy projects slated offshore near New York and New Jersey in what may be a first, as federal level energy policies adapt.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
In fourth-quarter 2024, the department completed an offshore wind lease sale in the Gulf of Maine, which resulted in two provisional winners on four lease areas and more than $21.9 million in winning bids.
Secretary of the Interior Deb Haaland announced in April 2024 a new five-year offshore wind lease schedule, which includes up to 12 potential offshore wind energy lease sales through 2028. Future lease sales from the Bureau of Ocean Energy Management (BOEM) are anticipated in the Atlantic, Gulf of Mexico, Pacific and the waters offshore the U.S. territories in the next four years, including one each in 2025 and 2026, two in 2027 and four in 2028.
Over the summer, construction work was halted for a cleanup and investigation after a turbine in the 806-MW Vineyard Wind 1 OCS-A 0501 project failed due to a manufacturing flaw. Work resumed in August and Vineyard Wind continues to add turbines to the existing set of 10.
Vineyard Wind 1 is the first utility-scale offshore wind farm in Massachusetts, leading the way for additional projects. Industrial Info is tracking projects on 10 leases in that area of the Atlantic.
Ørsted's (Fredericia, Denmark) expansion project with Crystal Steel Fabricators Incorporated (Delmar, Delaware) at the Federalsburg Structural Steel Fabrication facility in Federalsburg, Maryland, continues apace, on track to finish in second-quarter 2025. When finished, the facility will be equipped to make wind turbine foundations as a part of a $70 million contract to supply U.S.-built turbines for Ørsted's mid-Atlantic offshore wind projects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for the project report.
Further south, Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) continues to make progress on its large Coastal Virginia Offshore Wind project (CVOW) 25 miles off the coast of Virginia Beach. When it comes online in 2026, this project is expected to produce 2,600 megawatts (MW) that will be delivered into an area of the PJM Interconnection known for its transmission constraints and dense collection of data centers that drive high demand in the area. Not only should the wind power reduce constraints during the day, it is also expected to balance the growing solar energy production in the area overnight. The CVOW project is currently installing monopole foundations for 176 turbines and constructing offshore substations. Subscribers to Industrial Info's GMI Power Project Database can click here for the project report.
Dominion also picked up the lease for Kitty Hawk North from Avangrid Incorporated (NYSE:AGR) (Orange, Connecticut) in fourth-quarter 2024 and renamed it CVOW-South. Subscribers can click here for the project report.
On the West Coast, California's five leases have active projects in both Morro Bay and Humboldt Bay that cover a total of 373,268 acres about 25 miles offshore. The Even Keel, Atlas and Golden State windfarms are expected to connect to the onshore power grid at the Morro Bay Power Plant. In the Humboldt region, the wind additions will require a transmission grid update to bring the planned +3 gigawatts (GW) of power onshore.
As 2024 wraps up, the market is unsure about what will happen to the additional and existing leases and in-progress projects with the new Trump administration. Lease sales in Oregon and Washington offshore waters have already been postponed due to local concerns and TotalEnergies SE (NYSE:TTE) (Courbevoie, France) signaled in late November 2024 it would pause its 2.75-GW Attentive Energy projects slated offshore near New York and New Jersey in what may be a first, as federal level energy policies adapt.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
