By Valerie Volcovici Reuters
WASHINGTON, Feb 25 (Reuters) – The Biden administration’s sale of offshore wind development rights off the coasts of New York and New Jersey drew a record $4.37 billion in high bids from developers.
The auction, which began on Wednesday and stretched into Friday afternoon, is the first offshore wind lease sale under U.S. President Joe Biden, who sees the expansion of the industry as a way to tackle climate change and create jobs.
“Offshore wind is the winner,’’ said Doug O’Malley, director of Environment New Jersey, one of the many environmental groups pushing offshore wind as an alternative way of producing electricity, instead of natural gas and fossil fuels. Tom Johnson, NJ Spotlight
The U.S. Bureau of Ocean Energy Management (BOEM), which oversees energy development in federal waters, offered six leases across 488,201 acres (197,568 hectares) between New York’s Long Island and New Jersey, an area known as the New York Bight.
By the end of the auction, total high bids on the six blocks amounted to $4.37 billion, according to the BOEM. That is more than three times the revenue received from all U.S. offshore oil and gas lease auctions over the past five years.
Winning bidders included Ocean Winds East, Attentive Energy, Bight Wind, Atlantic Shores, Invenergy, and Mid Atlantic, according to a BOEM news release.
“This week’s offshore wind sale makes one thing clear: The enthusiasm for the clean energy economy is undeniable and it’s here to stay,” said Interior Secretary Deb Haaland.
Related:
Biden-Harris Administration Sets Offshore Energy Records
Offshore Wind Lease Auction Draws Praise and Concern
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