The California Public Utilities Commission (CPUC) has voted in favor of its proposed initial need determination under Assembly Bill 1373, directing the Department of Water Resources to procure electrical resources with long lead times, such as offshore wind, including 7.6 GW of floating offshore wind.
In response, Oceantic Network released the below statement.
“The California Public Utilities Commission today contributed major momentum to the state’s offshore wind market, determining a need for 7.6 GW of centralized offshore wind procurement,” says Liz Burdock, founder and CEO of Oceantic Network.
“The CPUC’s plan also involves laying out a predictable timeline of demand that will boost supplier confidence in the market and foster new investments into infrastructure. This is a critical step towards creating a supply chain capable of meeting California’s ambitious 25 GW of floating offshore wind deployment target. Today’s decision, along with other important actions taken recently by California’s various executive branch agencies, signals a firm commitment to the development of floating offshore wind. This action will help attract needed investments and resources to ensure the state can build offshore wind out by its desired timelines and at a cost that will provide ratepayer stability over the long term.”
