The Tulane Offshore Wind Conference: The Future for Offshore Wind in the Gulf and Nationally

The Gulf of Mexico has the potential to generate almost 510,000 megawatts of offshore wind energy per year. That is twice the current energy need of all five Gulf states, and larger than the potential offshore wind capacity of the Pacific Coast and the Great Lakes combined.

With the recent passage of the Inflation Reduction Act (IRA), the Gulf region is ripe for an offshore wind boom. The IRA now requires oil and gas lease sales of 60 million acres in the course of the previous year as a pre-requisite for offshore wind lease sales. Who can match that nationally? The IRA also significantly supports offshore wind through the continuance of the Production Tax Credits, a renewed Investment Tax Credit, and new tax credits for offshore wind vessels.

As a final note, Louisiana companies rooted in the oil and gas industry helped build the U.S.’s first offshore wind farm, a five-turbine pilot project that began operating off the coast of Rhode Island in 2016. The Block Island Wind Farm enlisted steel fabricators in Houma, ship operators from Galliano and engineers from Mandeville.

Tulane Law School is the premier law school in the Gulf region focusing on offshore wind law. This promises to be a fruitful conference. We hope to see you on Friday, January 31, 2025