FACTBOX-US offshore wind farms in service, in construction and under development

ReutersJan 21, 2025 8:07 PM

Jan 21 (Reuters) - U.S. President Donald Trump suspended new federal offshore wind leasing on Monday, his first day back in the Oval Office, pending an environmental and economic review.

Shares in Danish energy company Orsted ORSTED.CO, the world's biggest offshore wind firm, plunged on Tuesday after the company posted another impairment charge on delays to a U.S. offshore project.

Those are just the latest blows for the offshore wind industry that former President Joe Biden and several states considered key to meeting federal and state clean energy targets.

"The chances of any new offshore wind developments in the U.S. are zero for now," analysts at energy consultancy Rystad Energy said after Trump suspended new offshore wind permitting. Rystad, however, projected that projects already under construction would go forward.

In 2023 and 2024, several offshore wind companies took billions in write-offs, impairments and other cancellation fees after they determined they could no longer complete projects profitably due to rocketing construction costs, higher interest rates and supply chain snags.

There are currently four offshore wind projects in service in the U.S. However, one - Vineyard Wind 1 - was shut for part of 2024 after a blade fractured and fell into the ocean in July.

There are also four offshore wind projects under construction and a few more in advanced development.

Several New England and Mid-Atlantic states have said they plan additional solicitations for offshore wind over the next year. It is unclear whether the Trump review will affect those solicitations.

The following factbox lists the projects in service and those under construction and in advanced development that were expected to continue despite Trump's review:

In Service	State(s)	Company	Start Construction	First Power	Size (MW)
Block Island	RI	Orsted		2016	29
Coastal Virginia Offshore Wind Pilot	VA	Dominion		2020	12
South Fork	RI, MA	Orsted (50%)/Global Infrastructure Partners (GIP) Skyborn Renewables unit (50%)	Feb 2022	Dec 2023	132
Vineyard Wind 1	MA	Iberdrola/Copenhagen Infrastructure Partners	Nov 2021	Jan 2024	806


Under Construction	State(s)	Company	Start Construction (Estimated)	First Power (Estimated)	Size (MW)
Revolution Wind	RI, MA	Orsted (50%)/Global Infrastructure Partners (GIP) Skyborn Renewables unit (50%)	2023	~2026	704
Coastal Virginia Offshore Wind (Commercial)	VA	Dominion (50%)/Stonepeak (50%)	Nov 2023	~2026	2,587
Empire Wind 1	NY	Equinor	May 2024	2027	810
Sunrise Wind	RI, MA	Orsted	Jul 2024	~2026	924


Under Development	State(s)	Company	Start Construction (Estimated)	First Power (Estimated)	Size (MW)
New England Wind 1	MA	Iberdrola	~2025	~2029	791
SouthCoast Wind 1	MA	Ocean Winds (EDP Renewables/Engie)	~late 2025	~2030	1,287
Community Offshore Wind 1	NY, NJ	RWE/National Grid	~2027	~2030	1,314

*Empire Wind 1 - 2027 is estimated time of commercial power instead of first power

(Reporting by Scott DiSavino
Editing by Marguerita Choy)

((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters Messaging: scott.disavino.thomsonreuters.com@reuters.net))

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