Ports Back New Legislation to Boost Offshore Wind and Shoreline Economies

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Ports Back New Legislation to Boost Offshore Wind and Shoreline Economies
Offshore Wind

Ports Back New Legislation to Boost Offshore Wind and Shoreline Economies

By Tim Jay

Article from Global Trade Mag

The American Association of Port Authorities (AAPA) has officially endorsed the Reinvesting In Shoreline Economies and Ecosystems (RISEE) Act, a crucial piece of legislation spearheaded by Senators Bill Cassidy (R-LA) and Sheldon Whitehouse (D-RI). This proposed law aims to allocate a portion of the federal revenue generated from offshore leasing activities to state governments. The funds would be pivotal in enhancing port infrastructure, expediting project timelines, and bolstering domestic supply chains.

“The RISEE Act represents a pivotal opportunity for the port industry to contribute to America’s manufacturing sector by establishing a new wave of energy infrastructure,” stated Cary S. Davis, President & CEO of AAPA. “We commend Senators Cassidy and Whitehouse for their bipartisan leadership on this forward-thinking proposal. AAPA strongly urges Congress to pass this legislation before the year concludes.”

Additionally, the RISEE Act proposes lifting the cap on federal revenue sharing with states through the Gulf of Mexico Energy Security Act (GOMESA). Presently, GOMESA provides Gulf states with funds from the oil and gas sector, which are then used for coastal resilience and ecosystem protection initiatives. If the RISEE Act is passed, it would allow Gulf states to significantly expand their investments in these crucial projects.

As the U.S. offshore wind industry continues to grow, the absence of sufficient port infrastructure to support wind farms has become a pressing concern. The National Renewable Energy Laboratory estimates that an additional $8 billion in port infrastructure investment is required to meet the White House’s ambitious goal of generating 30 gigawatts of offshore wind energy by 2030. The RISEE Act would play a key role in bridging this investment gap.

With the 118th Congress nearing its end, the RISEE Act stands out as the type of bipartisan legislation that Congress should prioritize. Given its strong support from both Democrats and Republicans, swift approval by Congress is essential.