Offshore Wind Development: Compensation Funds, Transmission Corridors, and Fisheries Support
This Act aims to coordinate offshore wind energy development and transmission infrastructure by streamlining planning and authorization processes. It establishes a Fisheries Compensation Fund to compensate fishermen and other eligible recipients for losses caused by the construction and operation of wind facilities. Additionally, the legislation provides for the designation of transmission corridors that may qualify for federal financial assistance.
Key points
Fisheries Compensation: Creates the Offshore Wind Energy Fisheries Compensation Fund to provide payments for losses incurred by eligible recipients due to offshore wind development activities.
Transmission Corridors: Authorizes the Secretary of Energy to designate "Offshore Wind Transmission Corridors," which may be treated as national interest electric transmission corridors eligible for financial assistance.
Bidding Credits: Allows the Secretary to offer bidding credits to bidders who commit to supporting registered apprenticeship programs, domestic supply chains, or community benefit agreements.
Status:
Expired
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