April 12, 2021
The Biden administration has already made a big bet on offshore wind, elevating the technology among the suite of options that deserve strategic attention. This support recognizes its potential to lower greenhouse gas emissions, create good jobs, and drive investment in associated infrastructure, especially along the Eastern seaboard of the United States. Such a correction was long overdue: at year-end 2020, the United States accounted for just 0.1 percent of the world’s installed capacity for offshore wind (versus 17 percent for onshore wind). For years, projects had languished in a regulatory process that was too slow, leaving the United States far behind China and several European countries. This may finally be changing.
Operator
Good morning and welcome to the Eversource Energy Fourth Quarter and Year-End 2020 Results Conference. My name is Brandon and I ll be your operator for today. [Operator Instructions].
And I will now turn it over to Jeffrey Kotkin. You may begin, sir.
Jeffrey R. Kotkin
Vice President-Investor Relations
Thank you, Brandon. Good morning and thank you for joining us. I m Jeff Kotkin, Eversource Energy s Vice President for Investor Relations. During this call, we ll be referencing slides that we posted last night on our website, And as you can see on slide one, some of the statements made during this investor call may be forward-looking as defined within the meaning of the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management s current expectations and are subject to risk and uncertainty which may cause the actual results to differ materially from forecasts and projections. These facto
ABS to Class First Jones Act Wind Farm SOV
The first U.S.-flagged Jones Act offshore wind farm service operation vessel (SOV) ever ordered will be built to ABS Class.
The SOV will be engineered, constructed and operated by Edison Chouest Offshore (ECO) for long-term charter to service the planned Revolution Wind, South Fork Wind and Sunrise Wind offshore wind farms in the northeast United States.
“ABS’ unique understanding of the U.S. regulatory environment and our industry-leading offshore experience means we are uniquely well placed to support projects such as this. We are fully committed to supporting development of the U.S. offshore wind industry and proud to be part of this initiative, which will play a key role in delivering its exciting potential,” said Matt Tremblay, ABS Senior Vice President, Global Offshore.
Maritime Activity Reports, Inc.
Credit: ABS
Maritime classification society ABS will class the first U.S.-flagged Jones Act offshore wind farm service operation vessel (SOV) ever ordered.
The vessel, ordered last year, will be engineered, constructed, and operated by Edison Chouest Offshore (ECO) for long-term charter to service the planned Revolution Wind, South Fork Wind, and Sunrise Wind offshore wind farms in the northeast United States.
Edison Chouest Offshore, Ørsted, and Eversource in November 2020 announced the execution of a long-term charter agreement for the provision of the SOV.
Matt Tremblay, ABS Senior Vice President, Global Offshore: ABS’ unique understanding of the U.S. regulatory environment and our industry-leading offshore experience means we are uniquely well placed to support projects such as this. We are fully committed to supporting the development of the U.S. offshore wind industry and proud to be part of this initiative, which will play a key role in