A large offshore wind farm planned for south of Martha’s Vineyard remains afloat, its leaders said last week, even as inflation and supply chain issues continue to threaten the development’s financial viability.

In a major step for the only Island-based partnership in the race to develop offshore wind, Vineyard Wind won the right this week to negotiate a 20-year state contract to build an 800-megawatt wind farm south of Martha’s Vineyard.

The award of offshore wind contracts with state utility companies has been delayed until May 23.

The Trump administration will expand wind energy leases off Martha’s Vineyard, the U.S. Secretary of the Interior announced Friday.

Cape Wind has officially pulled out of its bid to develop a wind farm in Nantucket Sound, bringing an end to the controversial project.

As wind farm developers begin to jockey in earnest to build projects in waters off the Vineyard, a new round of surveys related to a turbine project south of the Island is set to begin this week.

Interest in offshore wind energy in the Northeast continues, with two companies vying for the remaining leases in the Massachusetts wind energy area south of the Vineyard.

With offshore wind developers inching their way through the federal permitting process, government and company representatives stopped by the Vineyard this week.

Surveys of a future wind energy site south of Martha’s Vineyard are beginning Sept. 23, according to a notice to fishermen.