The Biden administration’s plan to increase offshore wind generation capacity by 2030 will not be met, executives at the world’s biggest turbine manufacturers have said, warning that the sector needed a reset to become economically viable.
The White House has set a goal of installing 30 gigawatts of offshore wind capacity by 2030 — enough to power 10mn homes — and has made the target central to its plans to slash carbon pollution.
But recent project cancellations, including Danish developer Ørsted’s decision to pull two offshore projects in New Jersey, and soaring costs had thrown the entire strategy into peril, said executives.
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