Jones Act Spurring Offshore Wind Joint Ventures with U.S. Firms
Foreign companies are increasingly exploring US joint ventures to break into the country's hot offshore wind market.
With US President Joe Biden pushing for a massive expansion of offshore wind in an effort to meet ambitious climate change goals, foreign operators with experience in the sector are looking to link up with US-based companies to satisfy Jones Act requirements, Blank Rome partner Jonathan Waldron said during a webinar on Tuesday.
"Jones Act barges can be used for a lot of the operations to transport for a US port ... and then a special operations vessel (SOV), that is Jones Act work," Waldron said.
"What we're seeing is an incredible amount of expansion of foreign companies, because they have experience the US doesn't have, investing in the US to form joint ventures."
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"Jones Act Spurring Offshore Wind Joint Ventures with U.S. Firms," by Matt Coyne was published in TradeWinds on April 27, 2021.
This topic was discussed at the Blank Rome-hosted live webinar, Mainbrace Live: U.S. Offshore Wind Industry Update. Register for all or any of the webinars in the Mainbrace Live series here.