Page 26: of Maritime Reporter Magazine (February 2022)

U.S. OFFSHORE WIND

The ? rst piece of the jigsaw was the White House initia- to progress offshore wind projects. tive released in March 2021 to “catalyze offshore wind en- The 800 MW Vineyard Wind project was approved in July ergy, strengthen the domestic supply chain, and create good- 2021 and reached ? nancial close in September 2021. The paying, union jobs”. The White House program included an project has broken ground, components are being manufac- offshore wind deployment target of 30 GW by 2030 and an tured, ? rst power is expected in 2023 and the project will be aspiration to achieve 110 GW of offshore wind by 2050. The fully commissioned in 2024. BOEM has approved the envi- practical upshot is that developers and tier one suppliers, most ronmental impact assessment of a second wind farm, the 132 with European wind industry backgrounds, have the visibility MW South Fork wind project and expects to complete ? nal of demand needed to make domestic U.S. investments – in- permitting of the project in January of this year.

cluding key component factories and port developments. This Exhibit 2 shows the clear pathway to project capacity per- in turn will create employment opportunities for “tens of thou- mitting by the month and year when BOEM expects all per- sands of workers.” mitting to be complete. Most project capacity will be fully

Secondly, Federal agencies, led by the Bureau of Ocean En- commissioned three to four years after ? nal permitting. ergy Management (BOEM), have shown a renewed impetus The Department of the Interior has con? rmed that BOEM

Exhibit 2 U.S. Offshore Wind Capacity by BOEM

Permitting Target Date 26 Maritime Reporter & Engineering News • February 2022

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