Investors - OCTOBER 14, 2021

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Biden to roll out large-scale wind farms across U.S. coastline

by Kali Persall

President Biden has announced plans to develop large-scale wind farms along nearly the entire U.S. coastline in what the New York Times is calling “the most forceful push ever by the federal government to promote offshore wind development.”

The U.S. Department of the Interior is reportedly hoping to lease federal waters in the Gulf of Mexico, Gulf of Maine and off the coasts of North Carolina and South Carolina, California and Oregon, to wind-power developers by 2025.

In May, the Biden administration approved the nation's first major offshore wind farm in federal waters, the 800-megawatt Vineyard Wind project off the coast of Massachusetts. Once completed in 2023, Vineyard Wind is expected to power more than 400,000 Massachusetts homes.

The project is part of President Joe Biden’s effort to generate 30 gigawatts of offshore wind by 2030. Currently, there are two w

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