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

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

EUROBOND Expands NABL Accreditation to 51 Testing Parameters

EUROBOND, the flagship brand of Euro Panel Products, has expanded the National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation of its in-house laboratory from 16 to 51 mechanical and chemical testing parameters, making it the only Indian aluminium composite panel (ACP) manufacturer with accreditation covering such an extensive testing scope.The expanded accreditation enables the company to independently test coils, coatings, cores, aluminium composite panels (ACP) and metal composite panels (MCP) in accordance with international standards, including IS, ASTM, ..