California voters have passed Proposition 4, a $10 billion climate bond including more than $800 million in directed funding for offshore wind ports and state transmission improvements, according to the Associated Press.
The $475 million in offshore wind funds will help advance the construction of the Ports of Long Beach, near Los Angeles, and Humboldt, in the far north. The ports will be upgraded so they can assemble floating offshore wind turbines.
California aims to deploy up to 5GW of offshore wind capacity by 2030 and a nation-leading 25GW by 2045.
The Oceantic Network industry body says this funding will provide the foundation for California’s offshore wind industry for decades while creating new manufacturing and supply chain opportunities.
“The $475 million in Proposition 4 is an important down payment that will catalyse state and federal funding, create new jobs, and implement the multi-port strategy to bring offshore wind online,” added Adam Stern, executive director of Offshore Wind California, a trade group of offshore wind developers and technology companies.
The state’s California Energy Commission has estimated that $11-12 billion will be required to upgrade port infrastructure.
