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Biden Pledges $50 Million for Floating Wind Turbines Off US Coasts

  • White House goal would mean 150 times what’s deployed today
  • Floating wind turbines more expensive than conventional models
Offshore wind turbines near Great Yarmouth, U.K.

Offshore wind turbines near Great Yarmouth, U.K.

Photographer: Chris Ratcliffe/Bloomberg

The Biden administration on Thursday set a new goal for deploying floating wind turbines in deep waters off US coasts and unveiled nearly $50 million in initiatives designed to propel the nascent technology.

The effort is aimed at positioning the US to be a world leader in selling and using floating wind turbines that can generate electricity in deep waters outside the reach of conventional equipment that must be installed in the seabed.