Report: Offshore wind supply chain worth $109B over 10 years – Honolulu, Hawaii

Honolulu, Hawaii 2021-10-12 14:19:53 –

File – A wind turbine spins to generate electricity on Wednesday, February 17, 2021 in Atlantic City, NJ. A report released on Tuesday, October 12, by a group studying the economics of the offshore wind industry, is worth $ 109 billion in the industry’s supply chain over the next decade. (AP Photo / Ted Shuffle, File)

Atlantic City, NJ (AP) — A group studying the economics of offshore wind energy in the United States says that building and operating an early industry is worth $ 109 billion for supply chain companies over the next decade. Stated.

A report from a special initiative on offshore wind will be released as states on both coasts and the Gulf of Mexico move toward entry or expansion into the industry and make important decisions about what to spend and where to spend it.

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Several states, including New Jersey, want to become the hub of the supply chain that supports offshore wind energy in the United States, planning and building onshore support sites for manufacturing turbine blades and other wind components.

The University of Delaware group estimated the market at $ 70 billion just two years ago, but updated the estimate as the industry continues to grow rapidly. One caveat: The report states that most of the initial components used in US offshore wind projects are from Europe. It does not try to predict when and where the shift will occur.

The United States has set a goal of producing 30 gigawatts of electricity from offshore wind power by 2030. This is enough to power more than 10 million households. Supply chain spending is already happening.

On Friday, Orsted and Eversource were Riggs Distler & Company, Inc. Has signed a $ 86 million supply chain agreement with the company to build the foundation components of the wind turbines for the Sunrise Wind Project in New York, off Cape Montauk on Long Island, to power 600,000 households.

In August, the two companies also signed a contract with Kiewit Offshore Services for the first American-made offshore wind substation to be part of the same Long Island project. The substation will be built near Corpus Christi in Ingleside, Texas. “These investments have long been a vision, but today they are becoming a reality,” said Ørsted spokesman Tory Mazzola.

New Jersey often says it wants to be a hub on the east coast of offshore wind, and is building onshore manufacturing and assembly facilities in the hope that it will be used in many projects. “We believe offshore wind will bring billions of dollars to New Jersey,” said Joseph Fiordariso, Chairman of the Public Utility Commission. “Sure, it’s a lot of money.”

Expected spending in the report includes approximately $ 44 billion in 2057 offshore wind turbines and towers. $ 17 billion on the foundation of 2,110 offshore turbines and substations. About $ 13 billion with a cable of about 5,000 miles. $ 10.3 billion at 53 onshore and offshore substations. Not only other construction and operating costs.

We also forecast the amount of electricity generated from offshore wind power generation by 2030. Electric energy in New York is projected to be 9,314 megawatts. There are 7,558 in New Jersey. Massachusetts has 5,604. Virginia has 5,200. Connecticut has 2,108. Maryland has 1,568 people. And Rhode Island has 1,000.

Currently, these states have contracts for 8,000 megawatts of electricity. “Overall, the promises of these states correspond to the power capacities of 32 large nuclear power plants and require a large number of suppliers (capital expenditure),” the report read.

The initiative describes it as an independent project at the University of Delaware’s Earth Ocean and Environment University, helping to drive offshore wind. It is funded by organizations such as the Rockefeller Brothers Fund.

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Offshore wind energy is seen as a way to combat climate change by providing clean energy to the planet. The New Jersey Environmental Protection Commission said at a forum on offshore wind power in Atlantic City last week that it would have adverse effects and benefits to the industry, and more research is needed on its impact on oceans and marine life. Said.

Report: Offshore wind supply chain worth $109B over 10 years Source link Report: Offshore wind supply chain worth $109B over 10 years

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