US floating offshore wind push faces supply chain and capital challenges

Offshore wind leases in the US are ramping up, with three out of seven auctions that were targeted by the end of next year already completed, but developing a promised supply chain for the industry is proving more difficult.

Aiming to develop 30 gigawatts of offshore wind power by 2030, the US is not lacking in ambition. It is additionally to this that US President Joe Biden’s administration is also targeting 15 GW of floating wind by 2035.

These targets are well under way, with the California lease auction in December adding potentially 4.6