U.S. Market

Rising costs, high interest rates, and supply chain issues have forced offshore wind companies to cancel or renegotiate contracts, while policy changes, including a presidential memorandum pausing leases, have caused project delays and financial losses. This article categorizes the current status of U.S. offshore wind projects, detailing those operational, under construction, approved, paused, or canceled, illustrating the sector’s volatile near-term landscape.

The Charybdis, the first U.S.-built wind turbine installation vessel, represents a $715 million investment in American offshore wind energy. Built in Texas, this Jones Act-compliant vessel will play a crucial role in Dominion Energy’s Coastal Virginia Offshore Wind project and future East Coast developments.