Page 28: of Marine News Magazine (February 2024)

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Feature

Offshore Wind © Eric Dale Creative / Adobe Stock

US OFFSHORE WIND:

D N OOWN BUT OT UT

By Eric Haun – Bob Dylan “The winds of change are blowing wild and free.” n the U.S. offshore wind industry, developments over are many stakeholders still committed to ensuring offshore recent months have placed an exclamation point on wind is incorporated as a growing part of the United States’ the word “wild”. Yes, the wind still blows “free”, but energy future. While a handful of projects have been de- mounting challenges have proven that harnessing its railed, others continue to push forward with plenty more

I power offshore is anything but. In fact, far from it, as ris- still in the pipeline.

ing materials costs, high interest rates, labor shortages and In November 2023, the American Bureau of Shipping supply chain delays, among other issues, have delivered (ABS) hosted its fourth annual Offshore Wind Forum in heavy blows to the commercial viability of several projects. New Orleans, gathering representatives from across many

A number of developers have moved to cancel or seek rene- segments of the maritime and offshore industries for a se- gotiated power contracts, slowly pushing President Biden’s ries of panel discussions addressing the U.S. offshore wind target of 30 gigawatts by 2030 out of reach. industry’s current challenges and path forward.

But just as the winds continue to blow offshore, there “There is no question about it. The wind industry right 28 | MN February 2024