Biden administration approves first ever offshore wind farm to supply power to New York

By Axios

The Biden administration approved Wednesday the construction of a major offshore wind farm to supply power to New York.Why it matters: The approval for the installation of a dozen turbines near Rhode Island marks a major step in the administration's goal of reaching 30 gigawatts of offshore wind-generating capacity in U.S. waters by 2030, powering more than 10 million homes.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeOfficials see offshore

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