Renewables Get A Jumpstart After Biden’s US$2.8bn Wind Project

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 Renewables Get A Jumpstart After Biden’s US$2.8bn Wind Project
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Summary

  • The US' first major wind farm project to be built 12 miles off the East Coast.
  • It will produce 800 megawatts of wind power for 400,000 homes.
  • It will be jointly developed by Vineyard Wind LLC., Avangrid (NYSE: AGR), and Copenhagen Infrastructure Partners.

In a major boost to the renewable energy sector, the Biden administration has approved the country's largest wind farm project valued at around US$2.8 billion.

The farm will be jointly developed by Vineyard Wind LLC., Avangrid (NYSE: AGR), and Copenhagen Infrastructure Partners off the East Coast in the Atlantic Ocean.

The project is located 12 miles off Martha's Vineyard. The components required for the successful installation of the wind farm will be manufactured in Europe.

It will have a capacity of around 800 megawatts and can power approximately 400,000 families living along the East Coast. The project is a significant milestone as it will produce commercial-scale wind power that will help reduce emissions in the sector.

Pic Credit: Pixabay.

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Before this project, the US had just two small offshore wind power stations, far behind its counterparts in Europe and Asia in wind power production.

The government plans to install about 30,000 megawatts of offshore wind-power projects by the end of this decade. It has increased funding in projects to achieve that goal. Power supplies from the project will kick-off in 2023. The initial phase of construction is likely to commence this year.


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About the Project

The Bureau of Ocean Energy Management is currently reviewing the project. It has prohibited the installation of the turbines close to the coast.

Meanwhile, the bureau has allowed the project developers to install 84 wind turbines, but they can mount a maximum of 100 turbines if required. The turbines will be separated by at least one nautical mile as suggested by the authority, which has also created a federal program to study the impact of offshore wind.

The agency is also developing an outreach program to safeguard the marine interest and diminish the potential harm to local wildlife, fishing, historical sites, etc.


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The project is expected to create around 3,600 jobs, one of the Biden administration's top priority. Apart from boosting employment, the strategy is also to fight climate change. In the near future, it will help develop a sustainable economy and environment. The government plans to go carbon neutral by 2035.

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