Report touts Louisiana’s offshore wind revenue potential

During an Oct. 18 Coastal Protection and Restoration Authority board meeting, researchers released a new report examining the growth potential for wind in the Gulf of Mexico, reports Biz New Orleans.

The report, Winds of Change: Navigating the Gulf of Mexico’s New Energy Frontier, includes estimates of revenue from federal offshore wind lease bids, rents and operating fees, and was created by the Kathleen Babineaux Blanco Public Policy Center at the University of Louisiana at Lafayette.

Officials estimate the area has the potential to generate approximately 1.24 gigawatts of offshore wind energy capacity and power nearly 435,400 homes. Credits included in the bid will result in more than $860,000 in investments for workforce training and domestic supply chain and $430,000 for fisheries compensatory mitigation. Read the entire story.