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US approves Rhode Island’s $1.5 bln offshore wind farm

US approves Rhode Island’s $1.5 bln offshore wind farm

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The US Federal Permitting Improvement Steering Council on Thursday gave final nod to the construction of a $1.5 billion offshore wind farm off the coast of Rhode Island.

Known as Revolution Wind, the project is expected to generate a total of 704 megawatts of clean energy to Connecticut and Rhode Island.

The project is run by Denmark’s Orsted and US company Eversource.

The Biden administration has made offshore wind development one of its priorities. However, the still elevated inflation, high interest rates coupled with delays in supply chains put in question plans to bring 30 gigawatts of offshore wind power online by the end of the decade.

In March, Orsted’s proposal to build Revolution Wind’s second stage was rejected by the Rhode Island utility, with the latter saying it would cost consumers too much.

The post US approves Rhode Island’s $1.5 bln offshore wind farm first appeared on Trading Pedia.

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