U.S. Ocean Wind Sees $70BIL Boom

US offshore wind: a US$70Bn opportunity

David Foxwell, 27 Mar 2019 (Offshore Wind Journal)

“America's fast-growing offshore wind industry, which is projected to generate 18.6 GW of power in seven states on the Atlantic seaboard by 2030, presents a near US$70Bn revenue capex opportunity…[According to a Special Initiative on Offshore Wind (SIOW) white paper, key] industry components required to achieve an almost US$70Bn utility-scale build-out of America's offshore wind power capacity by 2030 include more than 1,700 offshore wind turbines and towers (US$29.6Bn); more than 1,750 offshore turbine and substation foundations (US$16.2Bn); more than 8,000 km of upland, export and array cables (US$10.3Bn); more than 60 onshore and offshore substations (US$6.8Bn); and marine support, insurance and project management (US$5.3Bn)…

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Market visibility of growing state commitments is generating economies of scale and driving sustained industry momentum. These include: New Jersey 3.5 GW; New York 9.0 GW by 2035 (7.73 GW); Massachusetts 3.2 GW; Connecticut 2.0 GW; Rhode Island 1.0 GW; Maryland 1.2 GW; and Virginia 1.2 GW…” click here for more

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