Photo courtesy of Dept. of Energy
President Biden’s administration moved closer to meeting its offshore wind energy goals by announcing lease sales for developments in the Gulf of Mexico yesterday. Interim Executive Director of the Center of LSU Energy Studies, Greg Upton says the move is promising for investors.
“The bureau of ocean energy management would designate specific acreage that people could bid on and then the company that of course wins that bid would be able to move forward and develop that project,” says Upton.
A proposed sale for offshore acreage off of Lake Charles, LA, and two areas near Galveston, Texas offshore lines will allow Gulf Coast companies to build closer to home.
“What we might see over the next few years the economics really switch where the company would want to invest likely in the next few years Louisiana will see its first offshore wind farm,” says Upton.
Upton says the workforce availability may be limited short term.
“In terms of the total employment opportunities, it certainly provides employment opportunities for those who are currently working in the offshore or gas sector in particular,” says Upton.
Although an operational wind turbine in the Gulf of Mexico is still a few years out – The Gulf auction would be the fourth offshore wind sale since Biden took office.
Photo courtesy of Dept. of Energy
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