Posted on November 20, 2024
Louisiana voters have supported a constitutional amendment directing federal revenue from offshore wind lease sales to the state’s coastal protection and restoration fund. This provision would create parity between revenue from offshore wind lease sales and revenue from offshore oil and gas lease sales.
According to the Associated Press, more than 73% of Louisiana voters approved the amendment.
Louisiana already has a significant offshore wind supply chain presence, because of its offshore oil and gas industries.
“This vote creates a framework that will allow the state to increase its industry involvement,” said the Oceantic Network trade group.
Nancy Kirshner-Rodriguez, senior director of policy and outreach at Oceantic Network, added: “Voters are responding to the US offshore wind industry’s demonstrated economic benefits by overwhelmingly supporting long-term investments in their regions.”
There is a budding offshore wind industry in the Gulf of Mexico, although in July the federal government cancelled the second planned offshore wind lease auction in the Gulf of Mexico because only one developer expressed interest.
In 2023, RWE had won a tract off Lake Charles, Louisiana in the first federal auction, with a high bid of $5.6 million in the second round of bidding.
Vestas’ Cajun Wind special purpose vehicle and Mitsubishi-owned Diamond Wind have also been granted offshore wind leases off Louisiana.
