August 29, 2019 — New York recently announced the largest procurement of offshore wind power in U.S. history: to develop 9.0 GW of projects by 2035. New Jersey has set a goal of 3.5 GW by 2030. Barely a year after Massachusetts pledged to at least 1.6 GW of offshore wind, the Department of Energy Resources released a report recommending the Commonwealth doubled that commitment. Connecticut has signed on for 2.0 GW of offshore wind. There are others.
Over the next two decades, East Coast states and California expect to develop more than two-dozen offshore wind farms. The interest in an American offshore industry is clear. Next, however, comes the how. Building a supply chain — and, specifically, port infrastructure that supports the unique requirements of offshore wind — is critical to industry advancement.
“Timing is everything and congestion could be a major problem over the next decade,” says Lars Andersen, president of K2 Management’s North American operations. K2 is an experienced owner’s engineer and lender’s technical advisor. “For example, a single port harbor facility will be overburdened if multiple projects are under construction at the same time. Therefore, developers will likely have to consider multiple facility strategies and secure their options well ahead of time.”