Offshore Wind Poised to Grow Rapidly in U.S.: Moody’s

The fledgling U.S. offshore wind power industry is poised to explode during the next 12 years as state support grows; turbine costs fall; and Orsted AS, Statoil ASA, and other European developers invest in the U.S., according to a Moody’s Investors Service report published March 30.

Offshore wind farm developers are expected to build about 7.5 gigawatts of capacity through 2030 in the U.S. in Massachusetts, New Jersey, and New York as they make good on their commitments to bring offshore wind power to their residents, according to Moody’s.

About 13 gigawatts of offshore wind capacity are in different stages ...