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