The Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) have finalised updated regulations for renewable energy development on the U.S. Outer Continental Shelf (OCS).
The final rule aims to increase certainty and reduce costs associated with offshore wind projects by modernising regulations, streamlining complex processes, removing unnecessary ones, clarifying ambiguous provisions, and enhancing compliance requirements.
Over the next 20 years, the final rule is expected to generate approximately £1.9 billion in cost savings for the offshore wind industry. These savings can benefit consumers and support investment in additional job-creating clean energy projects. The final rule also introduces a process to regularly update a five-year offshore wind leasing schedule.
Key provisions of the final rule include:
- Elimination of unnecessary requirements for meteorological buoys deployment
- Increased flexibility in surveys
- Enhancement of certification and verification processes for facility design, fabrication, and installation
- Establishment of a public renewable energy leasing schedule
- Reforms to BOEM’s renewable energy auction regulations
- Tailoring of financial assurance requirements and instruments
- Clarification of safety management system regulations
- Strengthening of oversight for critical safety systems and equipment
