H.R. 3742: Offshore Energy Modernization Act of 2025
The Offshore Energy Modernization Act of 2025 is legislation designed to revise existing laws surrounding offshore energy, specifically focusing on renewable energy resources. The bill seeks to amend the Outer Continental Shelf Lands Act to encourage responsible and sustainable offshore renewable energy development. Key features include:
Promotion of Renewable Energy Development
The act aims to establish national production goals for renewable energy from offshore sources, which may include wind, solar, and other renewable technologies. This is intended to guide and enhance the growth of clean energy production in offshore areas.
Creation of the Offshore Power Administration
A new entity, the Offshore Power Administration, will be established to oversee and manage the implementation of this act. The Administration will:
- Obtain necessary leases, easements, or rights-of-way for renewable energy activities on the Outer Continental Shelf.
- Be led by an Administrator who will be responsible for the overall operations and policy directions.
- Access Treasury loans to finance renewable energy projects, facilitating the development of these initiatives.
Financial Provisions
The bill includes provisions regarding the use of revenues generated from offshore energy projects, as well as terms related to loan forgiveness, aiming to encourage investment in renewable energy systems by reducing financial burdens.
Environmental and Stakeholder Engagement
Addressing environmental concerns is a core aspect of this legislation. The bill ensures that environmental reviews are conducted appropriately and that stakeholders have a role in the development processes to ensure that community interests and ecological considerations are taken into account.
Conclusion
The Offshore Energy Modernization Act of 2025 seeks to modernize offshore energy practices in the U.S., steering efforts towards sustainable renewable energy through the establishment of a dedicated administration, clear financial pathways for project funding, and a framework for engaging with environmental and local stakeholders.
Relevant Companies
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Sponsors
1 sponsor
Actions
2 actions
| Date | Action |
|---|---|
| Jun. 04, 2025 | Introduced in House |
| Jun. 04, 2025 | Referred to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
Corporate Lobbying
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