Publications

U.S. offshore wind-leasing auction sets record with $405m in bids
Energy - DECEMBER 17, 2018

U.S. offshore wind-leasing auction sets record with $405m in bids

by Andrea Zander

The U.S. government has awarded offshore wind farms at three lease areas off Massachusetts to European based firms.

The Dec. 13–14 auction for the three wind leases, leftovers from the 2015 Atlantic wind lease sale, offshore Massachusetts brought in a record $405 million in bids —each for about $135 million.

The winning firms are Equinor (former Statoil), Mayflower Wind Energy (a joint venture between Shell and EDP Renewables) and Vineyard Wind. The three will secure 30-year concessions with a total of $405.1 million.

The Bureau of Ocean Energy Management (BOEM) now has a total of 15 active wind leases in federal waters for nearly 2 million acres. The most recent auctions, spanning almost 390,000 acres, have generated a majority of the $473 million of revenue brought in by the offshore wind lease sales, indicating a growing interest in U.S. offshore wind development.

Forgot your username or password?