United States: Three 2.9 GW offshore wind farms in New England

Massachusetts and Rhode Island launch three offshore wind projects, representing 2.9 GW of capacity, strengthening their position in renewable energy production.

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SouthCoast Wind project, États-Unis

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Massachusetts and Rhode Island are committing to three new offshore wind projects totaling 2.9 gigawatts (GW) of capacity.
These initiatives, the result of a joint solicitation last March, aim to boost the energy capacity of both states while meeting COâ‚‚ emissions reduction targets.
The selected projects, SouthCoast Wind, New England Wind 1 and Vineyard Wind 2, represent major milestones in the evolution of the regional energy mix.
New England Wind 1 is led by Avangrid Inc, SouthCoast Wind by a joint venture between EDP Energias de Portugal and Engie, while Vineyard Wind 2 is under the management of Vineyard Offshore, backed by Copenhagen Infrastructure Partners.
These wind farms should start generating electricity towards the end of the decade, contributing to the region’s energy independence and stability of supply.

US Offshore Wind Market Context

After a year 2023 marked by project abandonments and write-downs totaling $9.1 billion, the US offshore wind industry is returning to a certain equilibrium in 2024.
This stabilization is crucial for the sector, which has to contend with high construction costs, regulatory constraints and volatile financial markets.
Projects in New England reflect a more cautious, structured approach to achieving tangible energy production targets.
Federal state policies are now focusing on the increasing integration of renewables into their power grids, with Massachusetts aiming for a 50% reduction in COâ‚‚ emissions from the energy sector by 2030 and a complete transition by 2050.
The state of Rhode Island, meanwhile, is targeting 100% renewable coverage of its energy needs by 2033.

Economic implications and financing strategies

Progress on these projects is essential to attract investment and strengthen the local value chain.
The development of offshore wind power could generate new business opportunities, particularly in shipbuilding, port logistics and specialized maintenance services.
However, infrastructure costs, local acceptability issues and regulatory requirements remain major challenges.
The companies involved seek to minimize risks through financing arrangements and strategic partnerships, guaranteeing an adequate return on investment.
Financial incentives, such as tax credits and subsidies, play a key role in these business models, but the stability of public policies will be crucial to the long-term viability of the projects.

Regulatory Challenges and Growth Opportunities

The regulatory framework for offshore wind development remains complex, with approval processes involving coordination between various state and federal agencies.
Necessary adjustments to existing regulations will have to be made to meet planning and marine safety imperatives.
The New England projects could serve as models for other regions in terms of risk management and integrated planning.
The next steps will be to overcome logistical constraints and finalize equipment supply and construction agreements.
Industry players are closely following the progress of these projects, as they could determine the future direction of the offshore wind industry in the USA.

VSB Germany is developing over 800 megawatts of wind, solar, and storage projects, with 20% originating from repowering, confirming an investment strategy focused on optimising existing assets.
Danish group Ørsted will raise new funds through a rights issue to strengthen its financial structure and cover needs linked to the full ownership of the Sunrise Wind project.
Norway has received two bids for offshore sites in the Utsira Nord zone, marking a key step in the country’s floating wind development.
EDP Renováveis has completed the sale of twelve operational wind farms in France and Belgium to Amundi Transition Energétique for an enterprise value of €200mn ($215mn).
Octopus Energy has signed a strategic agreement with Ming Yang Smart Energy to deploy up to 6 GW of wind projects in the UK, combining software technology and turbines to boost local capacity.
The US government has requested the judicial cancellation of the federal permit granted in 2024 for an offshore wind project, citing impacts on commercial fishing and maritime rescue operations.
Vattenfall commits new investment to the Clashindarroch II onshore wind project, a 63MW site in Scotland set to begin construction in 2026 and deliver first power in 2027.
Alerion Clean Power enters the Irish market through the acquisition of an onshore wind farm in County Tipperary, as part of its 2025–2028 industrial plan.
Driven by China's acceleration, global wind capacity is expected to reach 170 GW in 2025, paving the way for a doubling of installed capacity by 2032.
Ocean Winds reaches a new milestone with the installation of the first foundation at the Dieppe – Le Tréport offshore wind farm, which will comprise 62 turbines supplying nearly 850,000 people.
Pennavel and BrestPort strengthen their partnership around the South Brittany floating wind project, aiming to structure industrial operations from 2030 at the EMR terminal of the port of Brest.
Van Oord has completed the installation of 109 inter-array cables at the Sofia offshore wind farm, marking a major logistical milestone for this North Sea energy infrastructure project.
Italian producer ERG will supply 1.2 TWh of energy to Rete Ferroviaria Italiana starting in October, marking a step forward in structuring the national PPA market.
The Chinese turbine manufacturer has signed a strategic agreement with Mensis Enerji to develop an initial 4.5 GW wind power portfolio in Turkey, strengthening its position in a fast-growing regional market.
The Trump administration plans to revoke federal approval of the New England Wind project, jeopardising offshore wind contracts representing 2,600 MW of capacity off the northeastern US coast.
Orsted and two U.S. states have taken federal legal action to contest the abrupt halt of the Revolution Wind project, a $5 billion offshore venture now at risk of prolonged suspension.
SPIE Wind Connect will carry out subsea connections for phase II of the TPC project, a major development in Taiwan’s offshore wind sector with a projected annual capacity of 1,000 GWh.
Envision Energy launches its first project in Turkey in partnership with Yildizlar Group, adding 232 MW to the national wind capacity in Karaman province.
ABO Energy maintains its annual targets despite a drop in half-year profit, relying on cost-cutting measures and early project sales to secure cash flow.
Energiekontor has closed financing for two wind projects in Verden, with a combined 94 MW, with construction starting this year and commissioning scheduled for 2027.

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