THE WHITE HOUSE HAS ANNOUNCED A NEW MULTI-AGENCY floating offshore wind initiative. Called the Floating Offshore Wind Shot, it will see the administration advance lease areas in deep waters in order to deploy 15 GW of floating offshore wind capacity by 2035. This builds on President Biden's goal of deploying 30 gigawatts (GW) of offshore wind by 2030, which will be largely met using fixed-bottom offshore wind technology. Additionally, the Floating Offshore Wind Shot includes a goal of reducing the cost of floating offshore wind energy by more than 70%, to $45 per megawatt-hour by 2035.
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