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U.S. to simplify offshore wind regulations to meet climate goals

(Reuters) - The U.S. Department of the Interior will reform its regulations for the development of wind energy facilities on the country's outer continental shelf to help meet...
U.S. to simplify offshore wind regulations to meet climate goals © Reuters. FILE PHOTO: A crane hangs over the first jacket support structure installed to support a turbine for a wind farm in the waters of the Atlantic Ocean off Block Island, Rhode Island July 27, 2015. REUTERS/Brian Snyder

(Reuters) - The U.S. Department of the Interior will reform its regulations for the development of wind energy facilities on the country's outer continental shelf to help meet crucial climate goals, it said in a statement on Thursday.

The proposed rule changes would save developers a projected $1 billion over a 20-year period by streamlining burdensome processes, clarifying ambiguous provisions, and lowering compliance costs, , the statement said.

"Updating these regulations will facilitate the safe and efficient development of offshore wind energy resources, provide certainty to developers and help ensure a fair return to the U.S. taxpayers," U.S. Interior Secretary Deb Haaland said in the release.

The reforms come days after the department named Elizabeth Klein, a lawyer who worked in the Obama and Clinton administrations, to head its Bureau of Ocean Energy Management (BOEM), overseeing offshore oil, gas and wind development.

As part of its offshore clean energy program, the BOEM has over the past two years approved the first two commercial scale offshore wind projects in the United States, held three lease auctions including the first-ever sale off the coast of California, and explored extending offshore wind to other areas like the Gulf of Mexico.

The department expects to hold as many as four more auctions and review at least 16 new commercial facilities by 2025, adding more than 22 gigawatts (GW) of renewable energy.

In September last year, President Joe Biden's administration set a goal of having 15 GW of floating offshore wind capacity by 2035 to accelerate development of next-generation floating wind farms in line with its target of permitting 30 GW of offshore wind by 2030.

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27-02-2024 09:37:12 (UTC+7)

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 EUR/USD1.0852↑ Buy
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 USD/JPY150.49↑ Sell
 AUD/USD0.6530↑ Sell
 USD/CAD1.3510Neutral
 EUR/JPY163.31↑ Sell
 EUR/CHF0.9550↑ Buy
 Gold2,043.00↑ Buy
 Silver22.773↑ Buy
 Copper3.8413↑ Sell
 Crude Oil WTI77.54Neutral
 Brent Oil81.62Neutral
 Natural Gas1.738Neutral
 US Coffee C180.10↑ Buy
 Euro Stoxx 504,864.15Neutral
 S&P 5005,069.53↑ Sell
 DAX17,423.23↑ Sell
 FTSE 1007,684.30Neutral
 Hang Seng16,458.50↑ Sell
 Small Cap 20002,029.05↑ Sell
 IBEX 3510,138.40Sell
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 Bayer28.59↑ Buy
 Allianz245.65Neutral
 Adidas188.20Neutral
 Lufthansa7.237↑ Buy
 Siemens AG174.90↑ Buy
 Deutsche Bank AG12.302↑ Buy
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