OVERCOMING THE CHALLENGES OF OFFSHORE WIND IN THE U.S.
The emerging offshore wind industry in the U.S. faces two major challenges: regulatory uncertainty and the cost of electricity. Regulatory uncertainty can be reduced through timely action by federal and state officials. To address these challenges, Magellan Wind supports advocacy efforts led by industry and non-government organizations. Where necessary, we will take the lead to move the industry – and our projects – forward. Our approach to cost reduction entails a focus on large-scale opportunities that can benefit from economies of scale, use of the most advanced, proven offshore wind technologies, creative, low-cost financing mechanisms, and efficient operations and maintenance plans.
Pinciple Power’s Windfloat Foundation