Oceantic Network’s report sets new baseline for port projects and investments required to create jobs and achieve U.S. offshore wind goals
For Immediate Release: September 25, 2023
Media Contact: Luke Jeanfreau | [email protected] | 504-4302-8079
BALTIMORE – Oceantic Network, the leading national organization working to accelerate offshore wind energy deployment and build a robust domestic supply chain, today released a new report, Building a National Network of Offshore Wind Ports: A $36B Plan for Domestic Clean Energy Infrastructure, which highlights the urgent need for private and public investment inU.S. offshore wind port development and outlines potential solutions for unlocking the needed capital to build the U.S. industry.
Authored by Brian Sabina, CEO of Clean Energy Terminals, in partnership with the Network’s member-driven Ports Working Group, the report is a $36 billion plan for developing domestic port infrastructure to help the U.S. reach its offshore wind deployment goals of 30 GW by 2030 and 110 GW by 2050. It offers practical cost and timing requirements for needed projects to ensure ports are ready to meet current and future demand. The paper also outlines nine approaches state and federal policymakers could take to encourage private investment, either by subsidizing portions of the infrastructure costs or by de-risking projects to drive confidence and cost-efficiency.
“The offshore wind industry has gained enormous momentum in just the last year, with steel in the water on the first two U.S. commercial-scale projects,” said Liz Burdock, president and CEO of Oceantic Network. “However, the shortage of port infrastructure developments is a critical bottleneck to industry growth that risks derailing progress. Federal and state governments must work together with private industry to incentivize and finance new offshore wind port projects to support our growing industry and create thousands of jobs in the process.”
While development of the U.S. offshore wind industry has accelerated rapidly in the past two years, the industry’s long-term ability to scale and meet demand faces key bottlenecks and hurdles. That includes the U.S. port infrastructure system that is currently unable to support projected offshore wind component manufacturing and project deployment. Already, more than $2.5 billion has been invested in U.S. ports, but unleashing the full potential of the industry requires a new understanding of long-term port needs and development timelines to enable sustainable offshore wind growth that will create thousands of manufacturing, logistics, and operations jobs.
“The offshore wind industry is poised to invest hundreds of billions of dollars into clean energy generation and manufacturing over the next 25 years,” Sabina said. “To unlock this long-term opportunity, we need to build more port infrastructure right now. Ports turn offshore wind project spending into family-sustaining careers for American workers and growth opportunities for domestic businesses. These facilities are major infrastructure projects that take years to develop and build. Without decisive action today, the country is at risk of falling short of our offshore wind deployment goals and losing out on this once-in-a-generation jobs and investment opportunity.”
The report’s key findings include:
- Port infrastructure is one of the most significant bottlenecks impeding the advancement of the U.S. offshore wind industry.
- The U.S. needs approximately 99-119 port development sites across the East Coast, West Coast, and the Gulf of Mexico to support the full buildout of the industry. To date, 35 are already operating or under development.
- Without additional government funding and policy supports that incentivize or de-risk private investment into U.S. offshore wind port infrastructure, port capacity will continue to be a major offshore wind deployment constraint across the country.
- The total cost to address the nation’s offshore wind port infrastructure gap is estimated to be $36 billion over the next decade when accounting for construction cost inflation.
- The needs of specialized ports on the West Coast to support floating offshore wind development comprise more than a third of the overall U.S. market need.
For more information or to arrange an interview with the Network, contact Luke Jeanfreau at [email protected] or 504-302-8079.
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As a non-profit organization, Oceantic Network’s driving purpose is to inform, coordinate, and mobilize human ingenuity, enterprise, and labor to take advantage of the urgent need to tap the vast offshore wind and renewable energy resources that lie in the world’s oceans. The collective, coordinated efforts of our 600+ members equip communities and nations to accelerate the transition to clean energy and create economic opportunities.
