US falls 30 GW short of Biden's offshore wind goal

10 Jul 2024 CW Team

The United States is projected to significantly undershoot President Joe Biden's 2030 offshore wind target, according to an analysis by the American Clean Power Association (ACP). By 2030, the ACP estimates that there will be approximately 14 gigawatts (GW) of offshore wind capacity along U.S. coastlines, falling short of the 30 GW goal set by the Biden administration in 2021 to boost the domestic energy industry.

Offshore wind plays a pivotal role in Biden's climate strategy, aimed at creating jobs and revitalising the economy. However, challenges such as soaring materials costs, high interest rates, and supply chain disruptions have prompted several offshore wind companies to cancel or renegotiate power contracts for planned U.S. projects over the past year. These hurdles have cast doubt on the industry's ability to meet the administration's timeline.

As of June 30, current offshore wind capacity in the U.S. stands at just 174 megawatts (MW), a significant increase from 42 MW a year ago, according to the ACP. The industry has over 12 GW in advanced development or under construction, indicating ongoing efforts to ramp up capacity.

In contrast, China leads the global market with nearly 38 GW of offshore wind capacity already in operation.

The ACP's market report suggests that the U.S. could achieve the 30 GW target by 2033 and nearly 40 GW by 2035, highlighting a rapid catch-up in the years following 2030. The industry forecasts investments of $65 billion in projects by 2030, potentially generating 56,000 jobs.

(Source: ET)

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..