The U.S. offshore wind market, which has lagged behind Europe for 20 years, has made significant strides in the past month as the controversial Cape Wind project near Cape Cod, Mass., received the first-ever approval from the U.S. Dept. of Interior to build such a wind farm. The project inked a power sales agreement with National Grid for half the output of the 468-MW wind farm. + Image Illustration: Walter Konefal Related Links: Britain’s Huge Offshore Wind Farm Faces An Array of Challenges Boston-based Cape Wind is years ahead of most other projects; its contract with London-based National Grid Plc
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.