U.S. Awarding $43 Million to Boost Development of Offshore Wind

The U.S. Energy Department awarded $43 million to 41 wind-energy projects to accelerate the development of offshore power plants.

The funding will be provided over five years to improve the technology of offshore wind turbines, including control systems and support-structure designs, and to eliminate market barriers that hinder development, the department said today in a statement.

“The U.S. has an abundant offshore wind resource that remains untapped,” Energy Secretary Steven Chu said in the statement.

The funding includes $4.5 million for the Gorham, Maine- based Biodiversity Research Institute, $4.1 million for Alstom SA (ALO)’s U.S. unit Alstom Power Inc. and $4 million for Siemens AG’s U.S. unit Siemens Energy Inc., according to the agency’s website.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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