Construction has begun in earnest on a national network of more than 2,100 offshore wind turbine rigs that will need to be installed in US coastal waters by 2030 to meet the national goal of 30 GW of offshore wind power.
In February, the US Department of the Interior awarded leases to six companies planning to build offshore wind farms on an area totaling 488,000 acres in the New York Bight waters off the coast of New Jersey and the southern shore of Long Island. The federal auction of the coastal sites yielded $4.37 billion from the winning bids.
DOI is planning auctions to award leases for offshore sites in the Carolinas in May; it will award leases for sites off the coast of California in November.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.