Offshore wind is a critical piece of the equitable transition to net-zero emissions in the United States. According to DOE’s National Renewable Energy Laboratory (NREL), meeting the national target of 30 GW in offshore wind by 2030 target will help the U.S. avoid up to 78 million metric tons of CO2. Wind speeds offshore tend to be more consistent and stronger than onshore, and as turbine sizes increase offshore, so do the reliability and the total energy output per turbine. Establishing the domestic supply chain and deploying offshore wind at scale in the U.S. is also estimated to result in the creation of approximately 44,000 jobs, providing economic stimulation in the highly populated coastline communities most likely to be negatively impacted by the effects of climate change.

LPO helps fill the financing gap for the domestic offshore wind supply chain and the deployment of the offshore wind farms to ramp up of critically needed domestic construction and innovative component manufacturing to take advantage of the country’s vast offshore wind resource potential.