Offshore wind has proven incredibly resilient to the ongoing economic crisis created by the COVID-19 pandemic, both in the United States and globally.
Offshore wind projects worldwide saw a record $35 billion dollars in final investment decisions made January through June 2020. This offshore wind investment figure more than offset the declines observed in global investment in solar, onshore wind, and biomass projects during the same period. In the U.S., the Coastal Virginia Offshore Wind (CVOW) project has stayed on schedule and on budget; its turbines are now mechanically complete, and commissioning is expected soon. CVOW withstood Tropical Storm Isaias on August 4 with no issues, a positive indicator for the resiliency of OSW turbines installed along the U.S. Mid-Atlantic coast.
To read the full story in the digital issue of ON&T August 2020, click here.
By Liz Burdock, president and CEO of the Business Network for Offshore Wind