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ARTICLE · 06 MAY 2022

US Offshore Wind – Financing Considerations And Development Challenges

Mayer Brown
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The Biden administration has committed to create 30GW of electricity via US offshore wind by 2030, the US Department of Interior is expecting to offer up to seven additional offshore wind...

United StatesFinance and Banking
Eric Pogue
Eric Pogue
Meredith Campanale
Meredith Campanale
Amanda L. Rosenberg
Amanda L. Rosenberg
Lauren A. Bachtel
Lauren A. Bachtel
Mark C. Williams
Mark C. Williams
Addison Perkins
Addison Perkins
Paul Astolfi
Paul Astolfi
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The Biden administration has committed to create 30GW of electricity via US offshore wind by 2030, the US Department of Interior is expecting to offer up to seven additional offshore wind lease sales in federal waters by 2035 and the Bureau of Ocean Energy Management (BOEM) has been actively pursuing these policy ambitions – for example, approving the first two commercialscale offshore wind projects in the US off the coasts of Massachusetts and New York, and holding a massive competitive auction for six lease areas in the New York bight area off the coasts of New York and New Jersey. And, that seems to be just the start of it – the executive branch's agenda resonates from coastal communities to Wall Street.

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