U.S. Charts New Course with Massachusetts Offshore Wind
Fifteen miles south of Martha’s Vineyard, an ambitious new energy project is taking shape. The nation’s first offshore power substation is in the works, expected to be operational as soon as October. This is the inaugural step of Vineyard Wind, projected to power 400,000 homes by 2024.
In the offshore wind world, rising inflation and financing rates have paused several projects in their tracks. The 806-megawatt Vineyard Wind was lucky to lock in supply deals before inflation hit.
With two smaller U.S. wind farms as precursors, larger projects like Vineyard Wind represent a significant shift in the nation’s energy paradigm.
By 2035, offshore wind supply is expected to increase fourfold. Consider this farm the first in many to be popping up across the seas.
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