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Released August 24, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The Biden administration is taking steps in meeting its lofty goal of the U.S. having 30 gigawatts (GW) of offshore wind power installed by 2030. Earlier this week, the U.S. Department of Interior gave approval for construction of an offshore windfarm off the Rhode Island coast. The approval marks the fourth U.S. utility-scale offshore windfarm to receive the green light to proceed.
The Revolution wind project off Point Judy, Rhode Island, is a joint venture of Danish renewable company Orsted (Fredericia) and U.S. utility Eversource Energy (NYSE:ES) (Hartford, Connecticut), which serves customers in Massachusetts, New Hampshire and Connecticut. Eversource is attempting to sell its 50% stake in the project. The windfarm will have a nameplate generating capacity of 704 megawatts (MW). According to a project website, upon completion, the facility will provide 304 MW of power to Connecticut and 400 MW to Rhode Island. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more details on the project.
Ali Zaidi, the White House's national climate advisor, said, "Today's approval of a fourth major offshore wind project is our latest permitting milestone that will help strengthen America's energy security, make our power grid more reliable, lower energy costs, and cut dangerous climate pollution."
The U.S. has approved three other utility-scale offshore windfarms in the Atlantic to date. These include:
Several projects wait in the approval queue. A project with strong potential for further development is Dominion Energy Incorporated's (NYSE:D) (Richmond, Virginia) Coastal Virginia Offshore Wind project, a 2.6-GW project planned off the Virginia coast. Dominion is building its own wind turbine installation vessel to construct the facility's 188 14-MW turbines. The vessel will be used for the project, then rented to other offshore developers. Subscribers can click here for more information.
Other projects are being developed by major multinational oil and gas companies looking to diversify their energy portfolios. Off the coast of Massachusetts, Equinor (NYSE:EQNR) (Stavanger, Norway) and BP (NYSE:BP) (London, England) have proposed the Beacon offshore windfarm, which potentially could generate up to 2.6 GW of power. The project would be constructed in phases, with the first phase including 123 10-MW turbines to provide generation of 1,230 MW. If approved in a timely manner, this phase could be providing power by the end of 2027.
A second proposed phase would add another 117 turbines, providing 1,170 MW of additional generation. This phase could potentially begin delivering power in 2028. Subscribers can learn more by viewing the project reports on Phase I and Phase II.
Subscribers to Industrial Info's GMI Power Database can click here for a look at reports for all of the projects discussed in this article and click here for the related plant profiles.
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 over 200,000 current and future projects worth $17.8 trillion (USD).
The Revolution wind project off Point Judy, Rhode Island, is a joint venture of Danish renewable company Orsted (Fredericia) and U.S. utility Eversource Energy (NYSE:ES) (Hartford, Connecticut), which serves customers in Massachusetts, New Hampshire and Connecticut. Eversource is attempting to sell its 50% stake in the project. The windfarm will have a nameplate generating capacity of 704 megawatts (MW). According to a project website, upon completion, the facility will provide 304 MW of power to Connecticut and 400 MW to Rhode Island. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more details on the project.
Ali Zaidi, the White House's national climate advisor, said, "Today's approval of a fourth major offshore wind project is our latest permitting milestone that will help strengthen America's energy security, make our power grid more reliable, lower energy costs, and cut dangerous climate pollution."
The U.S. has approved three other utility-scale offshore windfarms in the Atlantic to date. These include:
- The Vineyard project offshore Massachusetts, which is being developed by Iberdrola SA (Bilbao, Spain). Upon completion, this windfarm will include more than 60 12-MW turbines to provide 800 MW of power. Subscribers can click here for related reports.
- The South Fork Windfarm off Rhode Island, which will provide power to New York. This windfarm, also being developed by Orsted, will use 15 turbines, each rated at 8.6 MW, to provide about 130 MW of power. Subscribers can click here for more information.
- The Ocean Wind 1 project off the New Jersey coast. Another Orsted development, this windfarm received approval in July. The facility will use more than 90 turbines, with a capacity of 12 MW each, to provide overall generation of about 1,100 MW, which is enough to power about 500,000 homes, according to Orsted. Subscribers can click here for the project report.
Several projects wait in the approval queue. A project with strong potential for further development is Dominion Energy Incorporated's (NYSE:D) (Richmond, Virginia) Coastal Virginia Offshore Wind project, a 2.6-GW project planned off the Virginia coast. Dominion is building its own wind turbine installation vessel to construct the facility's 188 14-MW turbines. The vessel will be used for the project, then rented to other offshore developers. Subscribers can click here for more information.
Other projects are being developed by major multinational oil and gas companies looking to diversify their energy portfolios. Off the coast of Massachusetts, Equinor (NYSE:EQNR) (Stavanger, Norway) and BP (NYSE:BP) (London, England) have proposed the Beacon offshore windfarm, which potentially could generate up to 2.6 GW of power. The project would be constructed in phases, with the first phase including 123 10-MW turbines to provide generation of 1,230 MW. If approved in a timely manner, this phase could be providing power by the end of 2027.
A second proposed phase would add another 117 turbines, providing 1,170 MW of additional generation. This phase could potentially begin delivering power in 2028. Subscribers can learn more by viewing the project reports on Phase I and Phase II.
Subscribers to Industrial Info's GMI Power Database can click here for a look at reports for all of the projects discussed in this article and click here for the related plant profiles.
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 over 200,000 current and future projects worth $17.8 trillion (USD).
