ERTH - U.S. California to team up to develop offshore wind farms

The Biden administration unveils plans to develop offshore wind projects in partnership with the state of California, a significant step in the government's goal of deploying 30 GW of offshore wind by 2030.The plan seeks to add up to 4.6 GW of clean energy to the grid by 2030, or enough to power 1.6M homes, from two offshore sites near Morro Bay in central California and near the Oregon border.ETFs: [[ICLN]], [[PBW]], [[QCLN]], [[FAN]], [[PBD]], [[ACES]], [[CNRG]], [[SMOG]], [[ERTH]]Because the outer continental shelf becomes deeper much closer to shore in the Pacific Ocean than in the Atlantic, the federal government has spent more than $100M on floating offshore wind technology to be deployed for the offshore California projects.Development from the U.S. offshore wind energy industry so far has concentrated along the Atlantic Coast; earlier this month, the $2.8B Vineyard Wind project off the Massachusetts coast won its final federal approval.

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U.S., California to team up to develop offshore wind farms